Equity benchmarks remained rangebound with the Nifty hovering around 8500 level amid positive global cues. Healthcare, FMCG and auto stocks were under pressure while oil, technology and metals gained.
The 30-share BSE Sensex fell 21.57 points to 27786.57 and the 50-share NSE Nifty slipped 12.20 points to 8508.85. The market breadth also turned negative as about two shares declined for every share rising on the Bombay Stock Exchange.
Asia markets advanced, extending a global rally that pushed major US indexes to records amid expectations of further easing from Japan and the resolution of some concerns over the UK political muddle. In Japan, the Nikkei 225 closed up 135.78 points, or 0.84 percent, at 16,231.43, extending Monday and Tuesday’s combined 6.5 percent rally.
Crude futures fell as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the US government and OPEC that demand would increase next year. Brent futures fell 62 cents to USD 47.85 a barrel after settling up USD 2.22, or 4.8 percent, in the previous session.
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