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The Indian stock market closed in the red zone today i.e. Wednesday, September 18. The market opened with a gain of 200 points in the morning as well. After touching an all-time high, the market tumbled. In today's trade, heavy buying is being seen in banking stocks, while IT stocks are witnessing a huge decline. At the end of today's trade, the BSE Sensex closed down 131 points at 82,948 and the National Stock Exchange Nifty closed down 41 points at 25,377.
It is worth noting that the Sensex and Nifty touched their new record highs in early trade on Wednesday amid inflow of foreign capital. The 30-share BSE Sensex rose 230.66 points to a new all-time high of 83,310.32 points. The NSE Nifty rose 60.05 points to a new record high of 25,478.60 points. China's Shanghai Composite and Japan's Nikkei-225 rose in Asian markets. US markets closed with mixed gains on Tuesday. The stock market is adopting a cautious stance ahead of the US Fed's decision. If the Fed cuts rates, the market may rise again.
The stock market was up yesterday on Tuesday
Earlier yesterday, on September 17, the Sensex closed at 83,079 with a gain of 90 points. Nifty also saw a jump of 34 points and closed at 25,418. Auto, IT and FMCG stocks saw a rise. Metal and banking stocks declined.