Sensex, Nifty end lower as markets take breather after strong rally

Benchmark stock market indices ended the trading session on a weak note as Dalal Street took a breather after a strong rally in the previous session.
The S&P BSE Sensex fell 135.83 points to 82,926.88, while the NSE Nifty50 settled 43 points lower at 25,345.90.
Most of the broader market indices were mixed even as volatility declined sharply.
Realty and metal stocks saw strong gains during the session, while FMCG and energy stocks declined.
The top five gainers on the Nifty50 were Wipro, Bajaj Finserv, Bajaj Finance, Grasim and IndusInd Bank.
On the other hand, the top losers were SBI Life, Adani Ports, HDFC Life, ITC and Coal India.
The Bajaj twins were among top gainers as the housing unit’s IPO created a massive buzz on Dalal Street ahead of its listing on September 16.
Vinod Nair, Head of Research, Geojit Financial Services, said, “The market took a breather and ended on a flat note after the previous day’s sharp uptick. Despite domestic CPI inflation being within RBI’s target band, the increase in food prices may influence the central bank to remain prudent on rates.”
“Higher liquidity from FIIs to the domestic market and a slide in US 10-year yield increased the prospects of the FED rate cut, which will aid domestic sentiment,” he added.
Meanwhile, Ajit Mishra – SVP, Research, Religare Broking Ltd, said, “Sectoral performance was mixed, with realty and metals showing solid gains, while FMCG and energy declined. Meanwhile, the broader indices outperformed the benchmark, each rising by over half a percent.”
“The swift recovery in US markets, along with the recent uptick in foreign inflows, is driving this upward movement. We remain bullish and recommend using any interim dips to accumulate high-quality large-cap and large mid-cap stocks.”