Sensex down over 120 pts, Nifty at 20,171 ahead of US Fed meeting; IT stocks fall

Domestic equities fell on Monday ahead of US Federal Reserve meeting scheduled on September 19 and 20.

BSE benchmark Sensex slipped 260.38 points, or 0.38 per cent to open around 67,578.25, while broader NSE Nifty50 fell 61.15 points, or 0.30 per cent to 20,131.20.

By 9.45 am, Sensex was trading 124.53 points, or 0.18 per cent lower at 67,714.10, while NSE Nifty50 was down 20.95 points, or 0.1 per cent to 20,171.40.

Broader markets were also largely mixed in the opening session, as Nifty Midcap Select fell 0.42 per cent, Nifty Midcap 50 slipped 0.27 per cent, Nifty 100 and Nifty 200 fell 0.15 per cent each, and Nifty Midcap 150 was down 0.12 per cent. On the flip side, Nifty Smallcap 50 gained 0.53 per cent, Nifty Smallcap 100 rose 0.33 per cent, and Nifty Smallcap 250 jumped 0.29 per cent.

Sectorally, Nifty PSU Bank jumped 2.31 per cent, the pharma index gained 0.38 per cent, Nifty Healthcare Index jumped 0.37 per cent. Meanwhile, Nifty IT slipped 0.64 per cent, the realty sector slipped 0.51 per cent, Nifty Private Bank fell 0.40 per cent, and Nifty Financial Services rose 0.37 per cent.

M&M, HDFC Life, Cipla, Titan, Tata Consumer, NTPC, Hero MotoCorp, Asian Paints, SBI, PowerGrid, BPCL, Tata Motors, Britannia, ITC, Tata Steel, and Bajaj Finance were the top gainers during this hour.

On the other hand, Hindalco, Infosys, Tech Mahindra, HDFC Bank, LTI Mindtree, HCLTech, Coal India, Bharti Airtel, Axis Bank, Wipro, Reliance Industries, Kotak Mahindra Bank, and Nestle India were the top losers.