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Sensex ends 111 points lower, Nifty slips below 8,800 ahead of US Fed, BoJ meetings

The headline indices fell as sentiment across the globe was cautious ahead of the outcomes of the Federal Reserve and the Bank of Japan's policy meetings later this week.

BT Online   New Delhi     Last Updated: September 20, 2016  | 15:55 IST
Sensex snaps 4-day long winning streak, Nifty falls below 8,800 ahead of US Fed meet
Photo: Reuters

Snapping four-session long losing streak, the S&P BSE Sensex on Monday settled the day 111 points lower, while the broader Nifty50 slipped below its key 8,800 level.

The headline indices fell as sentiment across the globe was cautious ahead of the outcomes of the Federal Reserve and the Bank of Japan's policy meetings later this week.

The 30-share index ended the day at 28,523, down 111.30 points, while broad-based 50-share index quoted 8,775, down 32.50 points.

The consensus is that the Fed will leave interest rates unchanged, but investors are looking for commentary and guidance for the next interest rate hike.

 

Meanwhile, the BoJ could make negative interest rates the primary focus of its monetary policy at the conclusion of its meeting on Wednesday.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent after major US indexes ended a choppy session nearly flat on Monday. "It's more of a global phenomenon which is affecting the market," said RK Gupta, managing director, Taurus Asset Management.

Hero MotoCorp was the top loser on both the benchmark indices and lost over 2 per cent on the BSE.

The Nifty Auto index was down 0.70 per cent after rising about 23 per cent this year as of Monday's close.

Jubilant FoodWorks's shares fell as much as 8.21 percent to their lowest in over seven months after the company on Monday approved the resignation of Ajay Kaul as CEO-cum-whole time director.

(With inputs from Reuters)


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