The domestic indices continued to be in the losing range for the fourth day in succession following fears of inflation, Omicron version o0f Covid scare and in the wake of US Fed policy meeting tonight.
The 30-share pack Sensex declined 329.06 points or 0.57 per cent to close at 57,788.03. The index fell 1019 points in the last four sessions. NSE’s Nifty fell 103.50 points to 0.60 per cent to end at 17,221.40.
Staying above 17200 would enable Nifty to enter a consolidation phase and a fall below this could weaken the trend, experts opine.
Experts said that 17200 Lebel is a good mark for Nifty50 and holding above this level could help the index see some swift bounce.
Most of the sectoral indices traded in tandem with the benchmark and ended lower. The broader markets also witnessed selling pressure as Midcap and Smallcap ended lower by 0.5 per cent and 0.3 per cent respectively.
All is focused on the US Fed meet tonight as it is expected that the committee would hold the rates citing possible challenges to the new Covid variant, rising inflation and the growth graph.
