The benchmark stock market indices took a step back from their recent record highs on Monday, exhibiting a cautious sentiment among investors in anticipation of the upcoming interest rate decision by the US Federal Reserve.
The Nifty 50, after reaching record levels, observed a marginal decline of 0.3 per cent, ultimately settling at 20,133.3 points, while the S&P BSE Sensex experienced a slight dip of 0.4 per cent, concluding at 67,596.8 points.
In addition to these movements, all the broader market indices also ended the trading session on a weaker note.
Among the sectoral indices, Nifty IT, Nifty Realty, Nifty Bank, Nifty Financial Services, and Nifty Metal were the top performers on the downside.
Conversely, the top five gainers on the Nifty 50 included Power Grid, Titan, HDFC Life, M&M, and BPCL.
On the flip side, the leading decliners were Hindalco, HDFC Bank, Adani Ports, Dr Reddy's, and Bharti Airtel.
It's noteworthy that investors are currently closely monitoring the policy decision of the US Federal Reserve, which is expected to maintain its current interest rates when it announces its decision on Wednesday.
Deven Mehta, a research analyst at Choice Broking, commented on the market's performance, stating, "Following a small gap-down opening, the Nifty rebounded towards the 20,200 levels but eventually retraced and closed the day in negative territory."
"In the context of mixed global cues, the Indian market largely traded within a defined range. The market's lateral movement following a sharp uptrend could be seen as a positive development in the long run," he added.
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