|Published : 20 Sep 2016, 14:09:12|
Indian shares fall after four sessions of gains
Indian shares fell on Tuesday after four sessions of gains as sentiment across the globe was cautious ahead of the outcomes of the Federal Reserve and the Bank of Japan's policy meetings later this week.
The consensus is that the Fed will leave interest rates unchanged, but investors are looking for commentary and guidance for the next interest rate hike.
Meanwhile, the BOJ could make negative interest rates the primary focus of its monetary policy at the conclusion of its meeting on Wednesday.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent after major US indexes ended a choppy session nearly flat on Monday.
The broader NSE index was down 0.33 per cent at 8,779.20 as of 0626 GMT, dragged lower by financial and IT stocks.
The benchmark BSE index was 0.34 per cent lower at 28,538.19.
The Nifty Auto index was down 0.61 per cent after rising about 23 per cent this year as of Monday's close. Hero MotoCorp Ltd, which was the top percentage loser, fell as much as 2.11 per cent.
The NSE Bank index was down 0.39 per cent, having risen 0.60 per cent this month as of Monday's close.
Jubilant FoodWorks Ltd's shares fell as much as 8.21 per cent to their lowest in over seven months after the company on Monday approved the resignation of Ajay Kaul as CEO-cum-whole time director, according to a news agency report.