Nifty 50 and Sensex hit two-week low on heavyweights losses – CNBC TV18

The benchmark indices, Nifty 50 and Sensex, declined up to 1.4% on Tuesday and hit a two-week low amid losses in heavyweight stocks, with investors also avoiding any risky bets on markets ahead of the crucial Federal Reserve rate decision due later today.

Investors are cautious ahead of the outcome of the Fed’s meeting, where a rate cut of 25 basis points is expected, analysts told Cogencis Information. However, there are worries that the Fed might signal a pause or a slowdown in the pace of rate cuts ahead, or that the Fed would give a cautious outlook for the policy meetings that follow, they said.

Meanwhile, data from Monday showed India’s trade deficit ballooned to $37.84 billion in November, a sharp increase from the $23 billion gap forecasted by economists in a Bloomberg survey. This widening deficit came as imports surged while exports struggled. In October, the deficit had stood at $27.1 billion.

Back on the markets, the Sensex falls 1,064 points to end at 80,684, while the Nifty declined 332 points to end at 24,336 points.

Among sectors, banking, information technology, and oil were among the biggest laggards and losses in these sectors led to the key indices extending their early decline.

49 out of 50 stocks on the Nifty 50 ended lower, with Shriram Finance, Bharti Airtel, Grasim Industries being top losers.