Sensex & Nifty retreat on profit booking ahead of US Fed decision

Benchmark stock indices Sensex and Nifty hit fresh lifetime intra-day highs before closing lower on Wednesday due to profit booking in IT shares ahead of the keenly-awaited US Fed's decision on interest rates The 30-share BSE Sensex dropped by 131.43 points or 0.16 per cent to settle at 82,948.23 in a volatile trade.

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The index opened lower but cut short losses in late morning trade, climbing 246.72 points or 0.29 per cent to scale a new all-time intra-day peak of 83,326.38.T The barometer re-entered the negative territory in afternoon trade as investors preferred to book profits at record levels. Sensex hit a low of 82,700.63 in pre-close session.

The NSE Nifty declined by 41 points or 0.16 per cent to close at 25,377.55. During the day, it advanced 63.65 points or 0.25 per cent to hit a fresh intra-day lifetime high of 25,482.20.