The NSE Nifty 50 fell 39 points or 0.17 per cent to 22,605, while the BSE Sensex fell 188.50 points or 0.25 per cent to 74,482.78.
Vinod Nair, head of research at Geojit Financial Services, said global markets were mixed ahead of the US Fed policy meeting as the market seems to have already priced in low chances of a rate cut in the near term. .
"Profit booking began following a sharp rally in the last few days and a lean week due to holidays. Domestic early Q4 corporate earnings forecasts were conservative; however, Nifty 50 companies' earnings have been slightly better so far, with the IT sector being an exception, While auto and realty sectors remain strong."
Rupak Dey, senior technical analyst at LKP Securities, said selling pressure was seen in Nift as it faced resistance near the previous swing high, resulting in a weak close.
Over the next few days, the trend in the Headline Index may remain sideways until it crosses the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index may fall further, H said.
Vinod Nair, head of research at Geojit Financial Services, said global markets were mixed ahead of the US Fed policy meeting as the market seems to have already priced in low chances of a rate cut in the near term. .
"Profit booking began following a sharp rally in the last few days and a lean week due to holidays. Domestic early Q4 corporate earnings forecasts were conservative; however, Nifty 50 companies' earnings have been slightly better so far, with the IT sector being an exception, While auto and realty sectors remain strong."
Rupak Dey, senior technical analyst at LKP Securities, said selling pressure was seen in Nift as it faced resistance near the previous swing high, resulting in a weak close.
Over the next few days, the trend in the Headline Index may remain sideways until it crosses the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index may fall further, H said.
