The benchmark Sensex fell 0.55% on Wednesday to close at 58,340, a level last seen on 14 September.
At the same time, the scheduled monthly expiry would keep the traders busy on Thursday.” said Ajit Mishra, VP – Research, Religare Broking.
Shares of One97 Communications, parent of Paytm, rose for the second consecutive day on Wednesday, easing from a selloff that had wiped out around a third of its value in the first two trading sessions.
Reliance Industries fell, with the stock ending at ₹2,351 apiece on the BSE, down 1.44%.
“Going ahead, the markets are likely to continue with consolidation given weak global cues, persistent FII selling and premium valuation.
“Market could take direction from the US economic data and US Fed minutes which would be released later today as it fears the pace of tapering to be accelerated which could prepone the interest rate hike cycle.