New Delhi: Domestic equities traded lower amid subdued global cues and inflationary concerns raised by the RBI as revealed in its meeting minutes, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
Nifty opened gap down and remained in negative territory throughout the session to close with a loss of 121 points (-0.6%) at 19,265, while the Sensex fell 365.83 points to settle at 64,886.51.
The broader market saw some profit booking as Nifty Midcap 100 fell 0.8 per cent after touching new highs, he said.
All sectors ended in the red with major selling seen in FMCG, pharma, PSU bank, metals and realty, Khemka said.
Domestic markets came under pressure after RBI meeting minutes showed concern over rising inflation and outlook over excess liquidity.
Also, investors were cautious ahead of US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday, he said.
S. Ranganathan, Head of Research at LKP Securities, said the benchmark indices opened weak in line with global cues ahead of the Fed meet and Powell’s speech.