Sensex, Nifty fall from record highs

Mumbai, Jun 16 (PTI): Benchmark indices Sensex and Nifty retreated from record high levels on Wednesday following intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve’s policy meeting.
The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64 per cent to 15,767.55. PowerGrid was the top laggard in the Sensex pack, shedding around 2 per cent, followed by IndusInd Bank, Reliance, L&T, UltraTech Cement and Bajaj Finance.
On the other hand, Nestle, NTPC, ONGC, Bajaj Finserv Hindustan Unilever and Infosys were among the gainers. Investors kept an eye on the two-day US Federal Reserve meeting, which is set to conclude. Lack of fresh trigger from overseas markets also weighed on the local stocks as Asian markets closed mixed. Bourses in Shanghai, Hong Kong and Tokyo ended on a negative note, while Seoul settled with gains.
Equities in Europe were trading mixed in mid-session deals.
Japan’s Nikkei 225 slipped nearly 0.3 per cent in early trading to 29,359.31. South Korea’s Kospi rose 0.4 per cent to 3,272.11. Australia’s S&P/ASX 200 gained 0.3 per cent to 7,403.40. Hong Kong’s Hang Seng inched down 0.1 per cent to 28,603.84, while the Shanghai Composite was little changed, inching up less than 0.1 per cent to 3,557.48.
France’s CAC 40 added 0.1per cent in early trading to 6,645.92, while Germany’s DAX slipped 0.2per cent to 15,698.98.
Britain’s FTSE 100 gained nearly 0.1per cent to 7,176.83. U.S. shares were set to drift lower, with the future for the Dow industrials slipping 0.2per cent to 34,117, while the S&P 500 future fell nearly 0.1per cent to 4,233.62.