Sensex ends lower; rate-sensitive stocks fall

MUMBAI (Reuters) - The BSE Sensex fell on Thursday for a second consecutive session, retreating from earlier gains of as much as 1.2 percent as investors felt domestic markets already sufficiently reflect expectations for a later start in U.S. rate rises.

Most global markets rallied towards all-time highs after the Federal Reserve signalled it was in no rush to push borrowing costs higher despite removing a reference to being "patient" on interest rates from its policy statement on Wednesday.

In India, however, shares had already risen to record highs earlier this month but have retreated amid concerns about a lack of triggers.

The benchmark BSE Sensex closed 0.53 percent lower at 28,469.67 points. Earlier in the day, it gained as much as 1.25 percent.

The broader Nifty ended down 0.59 percent, after gaining as much as 1.18 percent earlier.

Lenders led the decliners with the bank index of the NSE down 1.76 percent. State Bank of India fell 2 percent and ICICI Bank closed 1.4 percent lower.

(Reporting by Indulal PM; Editing by Sunil Nair)