Stock Market Closing: Indian stock markets closed in the red on Tuesday ahead of key policy decisions, especially that of the US Federal Reserve. At the end of trading, selling was seen in PSU banks, auto, IT, financial services, pharma, FMCG, metals and realty sectors of the Nifty. The Sensex closed at 80,684.4, down 1,064.12 points or 1.30 percent, and the Nifty closed at 24,336, down 332.25 points or 1.35 percent.

How much did Nifty Bank fall

According to market experts, pessimism remains across sectors ahead of key policy decisions by the US Fed, Bank of Japan and Bank of England. Although the market has already taken into account the 25 basis point rate cut by the US Fed, it is already alert to any aggressive signals.

Nifty Bank closed at 52,834.80, down 746.55 points, or 1.39 percent. The Nifty Midcap 100 index closed at 59,101.90, down 341.15 points, or 0.57 percent. The Nifty Smallcap 100 index closed at 19,398.45, down 132.60 points, or 0.68 percent.

Which stocks fell

On the Bombay Stock Exchange (BSE), 1,578 stocks closed in the green and 2,440 in the red, while 89 stocks remained unchanged. On the sectoral front, buying was seen in the media sector of Nifty.

Bharti Airtel, IndusInd Bank, JSW Steel, TCS, Asian Paints, L&T, Bajaj Finserv, Reliance, Nestle India, HDFC Bank, Maruti, M&M, Tata Steel and Power Grid were the top losers in the Sensex pack. ITC was the only top gainer.

How was the condition of rupee

The rupee held steady near 84.90 as the market remains focused on the Fed's final policy decision of the year, scheduled on December 18.

"A dovish stance could push the dollar index lower, giving a breather to the rupee. However, any evasive or aggressive comments could strengthen the dollar and keep participants bearish on the rupee. The rupee is expected to trade in the range of 84.75 and 85.05 (per dollar)," said research analyst Jatin Trivedi, vice president, commodity and currency at LKP Securities.