Nifty slips below 200-day moving average

Reuters Market Eye - The Nifty edges lower to slip below its 200-day moving average at 5,838 as caution prevails ahead of the U.S. Federal Reserve's two-day policy meeting, at which it is widely expected to begin withdrawing stimulus, followed by the RBI on September 20.

The BSE Sensex falls 0.1 percent, while the broader NSE index is down 0.2 percent.

Among blue chip shares, Housing Development and Finance Corp Ltd falls 1.7 percent, while Sun Pharmaceutical Industries Ltd is down 3.7 percent.

Bank shares also edge lower ahead of the key central bank meetings: ICICI Bank Ltd down 1.2 percent while State Bank of India Ltd falls 0.8 percent.

 

Shares of India's gold-based non-banking lenders slump after the central bank said on Monday that it broadly accepted its working group's recommendations on non-banking financial companies lending against the collateral of gold jewellery.

Muthoot Finance Ltd falls 6 percent, while Manappuram Finance Ltd is down 3.7 percent.

(Reporting by Abhishek Vishnoi)