Sensex slides 111 points, Nifty tad below 10100

Nifty scales fresh peak of 10,167.15 Sensex climbs 235 points

Heavy fall in the rupee after the US Federal Reserve announced plan to wind down its crisis-era stimulus and hinted at another interest rate hike before the end of the year dampened the sentiment.

The dollar index, which measures the U.S. currency's strength against major currencies, was trading at 92.579, up 0.08 percent from its previous close of 92.51, the business daily reported.

At 0929 hours, Sensex was trading at 32461.93 higher by 61 points or 0.18%, while the Nifty 50 was above 17 points or 0.17% trading at 10158.45.

Small-cap and mid-cap stocks moved in tandem with the benchmark indices, weakening by up to 0.51 per cent.

The BSE market breadth was bearish with 1,581 declines and 993 advances.

The 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,400.51 points - down 1.86 points, or 0.01 per cent, from its previous close at 32,402.37 points.

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"The short term trend of Nifty is choppy with weak bias. So, this can impact in the short-term but unlikely in the long-term, as seen by the appreciation of INR (Indian rupee) in spite of selling by FII", Nair added. Domestic institutional investors (DIIs) showed support by taking shares worth a net Rs 775.61 crore while foreign portfolio investors (FPIs) discarded equities worth Rs 96.92 crore yesterday, according to provisional data.

At the Interbank Foreign Exchange (Forex) market, the rupee opened with a gap-down at 64.50 against Wednesday's finish of 64.27 tracking overnight global developments.

"Over 120 stocks hit fresh 52-week highs, helping them multiply investors' wealth". The stock of Dr. Reddy's was the top gainer on Sensex and Nifty and hit its highest price since 31 July 2017.

Sector-wise, the S&P BSE metals automobile index slipped by 171.59 points, consumer durables index by 120.81 points and banking index by 78.29 points. Among major losers, ICICI dropped by 2.29 per cent, Axis Bank by 1.79 per cent, Coal India and ONGC by 1.7 per cent.

However, shares of Dr Reddy's, Cipla, Lupin, Bajaj Auto, Sun Pharma, Tata Steel, Adani Ports, HDFC Ltd, Hero MotoCorp, Kotak Bank and Maruti Suzuki were trading in the positive terrain with gains of up to 3.13 per cent.

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