NSE’s Nifty ended 31.2 points or 0.12% lower to close at 24,981.95. BSE’s Sensex declined 167.71 points or 0.21% to end at 81,467. Both the indices had risen as much as 0.8% to 0.9% earlier in the trading session.
Foreign portfolio investors net sold shares worth ₹4,563 crore, taking their sales tally for the month to ₹48,431 crore. Domestic institutions were buyers to the tune of ₹3,509 crore.
The Nifty Bank also ended marginally lower on Wednesday after rising as much as 1% after the Reserve Bank of India eased its monetary policy stance to ‘neutral’, potentially opening the likelihood of a rate cut in the next meeting. The Nifty Midcap 150 gained 1.1% and Nifty Smallcap 250 rose 1.2%.
Elsewhere in Asia, China declined 6.6%, reversing its recent winning run amid disappointment over the absence of a fiscal package in addition to the recent stimulus measures to revive its economy. Hong Kong fell 1.4% and South Korea declined 0.6%. Taiwan rose 0.2% and Japan was up 0.9%.
The Indian market’s Volatility Index or VIX – the market’s fear gauge – fell 3.44% to 14.1 levels, indicating that traders see lesser risks to the market in the near term.