Sensex, Nifty slip after two-day rally as investors eye US CPI; Nifty FMCG defies market slump
After two days of gains, the Sensex and Nifty 50 slipped 0.5 percent in a volatile session on September 11, as investors braced for the release of the US CPI data later today. Except for Nifty FMCG, all other sectoral indices closed in the red, with auto and energy stocks dragging the market lower. Vinod Nair, Head of Research at Geojit Financial Services, remarked that concerns over US political risks and fears of a recession could trigger short-term caution in global markets. At close, the Sensex was down 357 points or 0.4 percent at 81,563 and the Nifty was down 122 points or 0.5 percent at 24,918. About 1,551 shares advanced, 2,242 shares declined, and 98 shares were unchanged. The broader market mirrored the decline in benchmarks, with both the BSE Midcap and Smallcap indices falling by 0.5 percent. Nifty Bank fell by half a percent on the day of the weekly expiry of BANKNIFTY futures contract. The auto index fell 1.2 percent dragged down by Tata Motors and Mahindra &