MUMBAI: Sensex and Nifty closed in the red on Wednesday ahead of the Fed meeting outcome. Sensex shed 78 points ahead of the Fed outcome and closed below 59,000. Nifty50 closed below 17,550. Media stocks rallied after the Zee-Sony merger announcement.
Coal India, Tech Mahindra, Tata Motors, Hindalco Industries, and M&M were the top Nifty gainers. HDFC, Nestle, HDFC Bank, ICICI Bank and Kotak Mahindra Bank were among the top losers. Except for bank and FMCG, all sectoral indices ended in the green, with the realty index rising over 8 percent. The BSE midcap and smallcap indices rose 1 percent each.
ITC's market capitalisation returned to Rs 3 trillion mark on Wednesday after the stock of the biggest cigarette and second-largest fast-moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.90 and was trading at its highest level since December 2019. (IANS)