Sensex and Nifty Retreat from Record Highs Due to IT Share Profit Booking and US Fed Anticipation
Market Overview
In recent trading, Sensex and Nifty witnessed a notable retreat from their record highs mainly driven by profit booking in the IT sector. After hitting impressive lifetime intra-day peaks, both indices faced downward pressure as investors adjusted their portfolios ahead of the highly anticipated decision from the US Federal Reserve on interest rates.
Profit Booking and Sector Impact
The profit booking trend was particularly pronounced in technology stocks, reflecting a shift in investor focus as the US Fed's upcoming policy announcements loom large. Market participants are closely monitoring these developments, which could lead to further fluctuations in financial markets.
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