Sensex and Nifty Retreat from Record Highs Due to IT Share Profit Booking and US Fed Anticipation

Wednesday, 18 September 2024, 10:16

Sensex and Nifty are retreating after reaching record highs, primarily due to profit booking within the IT sector as traders brace for the upcoming US Fed decision. This reversal showcases market volatility in the lead-up to significant economic developments, impacting investor sentiment across indices. The attention now shifts to the US Fed's monetary policy, which may dictate future market trends.
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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.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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