Mumbai: After two consecutive sessions of heavy declines, Sensex and Nifty rose in early trade on Wednesday. Buying at lower levels boosted the market. The 30-share BSE Sensex ended the day down 275.01 points, or 0.32%, at 84,391.27. 11 Sensex stocks advanced and 19 stocks declined.
On the other hand, the 50-share NSE Nifty closed down 81.65 points, or 0.32%, at 25,758.00. IT, PSU banks and NBFC stocks were the biggest losers, while media, metal and pharma indices rose sharply.
The US Federal Reserve's decision is expected later tonight. A 0.25% interest rate cut is expected, but market uncertainty remains over policy in the new year, inflation expectations and a potential successor to Chairman Jerome Powell. This was the biggest reason for today's decline.