Stock Market Today: Nifty, Sensex Erase Gains In Last-hour Trade To Close Near Day's Lows

US futures declined in pre–market hours as investors braced themselves for remarks from several Federal Reserve officials, who will speak at different events later today. Moreover, markets await Fed September meeting minutes.

The S&P 500 futures was 0.12% down at 5,793.25, and the Down Jones Industrial Average futures declined 0.10% to 42,331.00. The Nasdaq 100 Futures declined 0.19% to 20,260.75 as of 3:30 p.m.

• US: Federal Reserve Bank of Atlanta President Raphael Bostic will speak at the Greater Atlanta Home Builders Association — 5:30 p.m. IST

• US: Federal Reserve Bank of Dallas President Lorie Logan will speak at the Greater Houston Partnership Future of Global Energy Conference

• US: Energy Information Administration Crude Oil Inventory Report — 8:00 p.m. IST

• US: Federal Reserve Bank of Chicago President Austan Goolsbee will deliver opening remarks at the Chicago Payments Symposium — 8:00 p.m. IST

• US: Federal Reserve Governor Philip Jefferson will speak at the Charlotte Economics Club Lunch — 10:00 p.m. IST

• US: US FOMC September meeting minutes — 11:30 p.m. IST

• US: Federal Reserve Bank of Boston President Susan Collins will speak at the Worcester Regional Research Bureau — 2:30 a.m. IST 

• US: Federal Reserve Bank of San Francisco President Mary Daly will participate in moderated discussion about monetary policy and the economic outlook at Boise State University, Idaho — 3:30 a.m. IST

• Japan: PPI — 5:20 a.m. IST

Benchmark equity indices closed lower after one session of ending higher as they erased gains in last hour with Reliance, Nestle shares pulling them lower.

Intraday, the indices had risen as much as around 1.2% after RBI's monetary policy meeting changed the liquidity stance to 'neutral' from 'withdrawal of accommodation earlier, signaling at a potential rate cut. The weekly futures contract of Nifty Bank closed flat on expiry day.

The Nifty ended 0.12% or 31.20 points lower at 24981.95 and Sensex lost 0.21% or 167.7 points down at 81467.10.

Aditya Gaggar Director of Progressive Shares, said that the resistance level i.e. 25,200 acted very well in today's trade. "After a firm opening, the Index was seen compounding its gains for the major part of the day but in the last session, a steep fall in the select heavyweights dragged the Index lower and erased all its gains," he said. "Support and resistance are very well-placed i.e. 24,750 & 25,200, and breakout on either sides will provide a clear picture."

Shares of Reliance Industries Ltd., Nestle India Ltd., HDFC Bank Ltd., ITC Ltd., and Larsen & Toubro Ltd. dragged the Nifty.

While those of Infosys Ltd., Bharti Airtel Ltd., ICICI Bank Ltd., State Bank Of India, and Axis Bank Ltd. cushioned the fall.

Most sectoral indices end higher; Nifty FMCG fell the most and Nifty Realty was top gainer

Market breadth was skewed in favour of buyers. Around 2,716 stocks rose, 1,224 stocks declined, and 106 stocks remained unchanged on BSE.

Broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices ended 1.06% and 1.21% higher, respectively.

On BSE, 17 sectors advanced, three declined out of 20. The BSE Realty rose the most, while the BSE FMCG declined the most.

-Rupee closed flat at 83.96 against the US dollar.

-It closed at 83.96 on Tuesday.

Source: Bloomberg

• Nifty and Sensex erase their gains in last hour to close near day's lows

• Both indices continued downtrend after one-day rise

• Nifty ends 0.12% or 31.20 points lower at 24981.95

• Sensex ends 0.21% or 167.7 points down at 81467.10

• Broader indices outperformed benchmarks; Nifty Midcap 100 ended 1.07% up and Nifty Smallcap 250 closed 1.24% higher

• Most sectoral indices end higher; Nifty FMCG fell the most and Nifty Realty was top gainer

• Trent and Cipla were top Nifty gainers

• ITC and Nestle fell the most