Markets down amid choppy trades

Mumbai: Markets are in consolidation mood with benchmarking indices falling for the fourth consecutive session on Tuesday. Investors have turned cautious ahead of two-day US Fed meet on Tuesday that expected to signal on rate hike.

Sensex closed 102 points down at 27,459, Nifty ended down 24 points at 8,337, below 8,350. However, the broader markets outperformed with midcap and smallcap indices down with 0.1 per cent each.

Further, the investors are worried over the reports that RBI may keep key rates unchanged in its next meeting slated on August 4. Meanwhile, FIIs are the net sellers on Monday amounting to Rs 860 crore, as per the exchange data.

On the sectoral front, healthcare and metal indices were down 0.7 per cent and 0.8 per cent, respectively. While realty index was lower by 2 per cent. Select stocks from banking, auto and pharma space pulled the market lower at the last hour trade. Experts say that the market will continue to be in the consolidation phase ahead of expiry of July derivative contracts on Thursday.

The gainers: Punjab National Bank, 5.4%, Rs 142.50; BHEL, 2.5%, Rs 278.80; NTPC, 2.31%, Rs 137.30; Kotak Bank, 2.29%, Rs 731.40; Yes Bank, 1.61%, Rs 797.95.

The losers: NMDC, 4.74%, Rs 105.40; HeroMotoco, 3.07%, Rs 2,525; AsianPaint, 2.93%, Rs828.15; HDFC, 2.69%, Rs 1,300; Dr Reddy's, 2.52%, Rs 3,757.