Markets fall in early trade after four days of gains

Despite a positive start, the 30-share BSE Sensex failed to maintain gains and later fell 1

40.5 points

Despite a positive start, the 30-share BSE Sensex failed to maintain gains and later fell 140.5 points

Benchmark indices fell in early trade on Wednesday after a rally in the past four days amid mixed global market sentiment.

Despite a positive start, the 30-share BSE Sensex failed to sustain the gains and later fell 140.5 points to 60,980.85. The broader NSE Nifty fell 36 points to 18,109.40.

From the Sensex pack, Bharti Airtel, Titan, Maruti, Infosys, Nestle, Tata Consultancy Services, Asian Paints and Mahindra & Mahindra were among the laggards.

The gainers included Sun Pharma, Tech Mahindra, Tata Steel and UltraTech Cement.

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong were trading higher, while those in Tokyo were down.

Wall Street ended in negative territory on Tuesday.

VK Vijayakumar, chief investment strategist at Geojit Financial Services, said, “Markets around the world await the Fed commentary tonight. Therefore, it will be the Fed’s commentary and likely guidance that will propel the markets.”

On Tuesday, the BSE benchmark climbed 374.76 points or 0.62% to end at 61,121.35. Nifty closed 133.20 points or 0.74% higher at 18,145.40.

International oil benchmark Brent crude was trading 1.26% higher at $95.84 per barrel.

Foreign institutional investors (FIIs) were net buyers on Tuesday as they bought shares worth 2,609.94 crore, according to exchange data.