Share Market Today : Domestic benchmark indices closed in the red on Wednesday amid weak global cues. Market sentiment remained cautious ahead of the important US Fed meeting. US Fed Chairman Jerome Powell is scheduled to release a policy statement during the Federal Open Market Committee meeting on Thursday (US time). According to experts, the Indian market is witnessing a decline in the initial 'Santa Close rally', the impact of which is more pronounced in India due to the dollar rising faster than in developed markets. Market sentiment remains cautious, further affected by India's premium valuation.

There was a huge sell-off here

On Wednesday, Nifty's media, PSE, PSU bank, financial service, metal, private bank and commodity sectors witnessed heavy selling at the end of trading. At the end of trading, the Sensex closed at 80,182.20, down 502.25 points or 0.62 percent, and the Nifty closed at 24,198.85, down 137.15 points or 0.56 percent. Nifty Bank closed at 52,139.55, down 695.25 points or 1.32 percent. The Nifty Midcap 100 index closed at 58,723.25, down 378.65 points or 0.64 percent.

Shopping done here

The Nifty Smallcap 100 index closed 168.10 points, or 0.87 per cent, lower at 19,230.35. On the Bombay Stock Exchange (BSE), 1,447 stocks ended in the green and 2,558 in the red, while 94 stocks remained unchanged. On the sectoral front, buying was seen in the pharma, healthcare and IT sectors of the Nifty. Tata Motors, PowerGrid, NTPC, JSW Steel, ICICI Bank, L&T, Bajaj Finance, HDFC Bank, Axis Bank and SBI were the top losers in the Sensex pack. TCS, Sun Pharma, Tech Mahindra, HCL Tech, M&M, ITC and Infosys were the top gainers. The rupee closed at 84.95, its lowest level ever against the dollar.