Mumbai, Aug 20
The Indian benchmark indices slipped marginally in the Wednesday morning session, amid mixed global cues.
The BSE Sensex fell by 112 points or 0.14 per cent to 81,531. Nifty 50 slipped by 41 points or 0.16 per cent to 24,939 points.
Broader markets underperformed, with the Nifty Midcap 100 and Nifty Smallcap indices 100 ending in the red down 0.17 per cent and 0.19 per cent respectively.
Nifty Bank was down by 0.42 per cent. Most of the other indices showed moderate losses up to 0.50 per cent.
The NSE's benchmark index Nifty had rallied 364 points in the last three days on the back of positive announcements relating to GST reforms, likely to be implemented before Diwali.
“There is no scope for a sustained rally since the news coming from the US administration is not positive on the August 27 deadline for the 25 per cent secondary tariff on India. US President Donald Trump’s tariff policy, totally devoid of logic and fairness, driven solely by personal whims, may continue,” said Vinod Nair, Head of Research, Geojit Investments Limited.
In the short term, investors may focus on domestic consumption themes like banking and financials, telecom, hotels, healthcare, automobiles and cement, particularly the fairly valued segments, he added.