Mkts fall for 3rd day, down 214 pts ahead of Fed meet outcome

Markets ended in red for the third straight day as the benchmark BSE Sensex slipped by 213.68 points to end at 2-week low of 27,039.76 on profit-booking amid a cautious approach adopted by investors ahead of the outcome of the US Federal Reserve's meeting later in the day.
Besides, the expiry of October series contracts in the derivatives segment tomorrow, influenced market sentiments.
The CNX 50-share Nifty also dropped 61.70 points, or 0.75 per cent, to close at 8,171.20.
"The negative bias prevailed for third day in a row, as a result, benchmarks slipped further in red and lost over half a per cent.

"In the absence of any positive cues, participants preferred to book some profit and sit on the sideline ahead of US FOMC meet, though we don't expect any major announcement from that front," said Jayant Manglik, President, Retail Distribution, Religare Securities.
The Sensex resumed lower at 27,131.71 and hovered in a range of 27,163.98 and 26,919.96 before ending at nearly 2-week low of 27,039.76, showing a loss of 213.68 points or 0.78 per cent.

The gauge has dropped 431.05 points or 1.57 per cent, in two days.
Among major losers, Axis Bank tumbled by 7.36 per cent on concerns over the private sector lender's slippages in the second quarter ended September 30, 2015.

ICICI Bank and State Bank of India also ended lower by 4.30 per cent and 2.67 per cent, respectively.