Sensex logs first fall in 7 sessions

The Sensex’s four days of record gave way to its first drop in seven sessions on Tuesday, with investors in metal and IT stocks burning their fingers. The Nifty also came down from record, but managed to close above 10,300.

Participants are not lowering their guard yet as they keep their focus clearly on quarterly earnings and the outcome of the US Federal Reserve’s two-day policy meeting.

US President Donald Trump is expected to announce his decision on the next Fed chair soon, which explains the state of cautiousness among investors.

The Sensex, after opening lower, slipped further. But, buying in selective counters made it settle at 33,213.13, down 53.03 points, or 0.16 per cent. The index had risen 876.19 points in the past six sessions. The Nifty, too, closed lower 28.35 points, or 0.27 per cent, at 10,335.30. FPIs sold shares worth a net Rs 186.04 crore, while domestic institutional investors picked up equities worth a net Rs 139.68 crore on Monday, provisional data showed.