Indian stock markets closed lower as Asian cues were weak and European shares saw selling pressure ahead of the 2-day US Fed meet, which concludes on Oct 28.
While the US Fed is not expected to raise interest rates in its policy meet, investors would like to hear on the timing of a possible interest rate hike in the US. Worries surfaced that interest rates in the US, might be hiked as early as Dec, 2015.
HDFC was another stock that fell, after loan growth at the bank was a disappointment. The stock ended the day lower by 2 per cent.
Maruti ended the day with slight gains after its results were in line with estimates. HDFC Bank and Bajaj Auto were among the gainers from the Nifty.
Midcap stocks managed to hold ground, though select stocks like Apollo Hospitals and Concor were among the gainers. Axis Bank ended the day flat after its results largely met expectations.
Eros Media, which had slumped a huge 20 per cent in trade on Monday, was up after recovery of shares of parent company on the NYSE.
Meanwhile, markets across Asia ended the day mixed with the Shanghai Composite and the Hang Sang ending higher, while the Straits Times and the Japanese Nikkei lost ground. European markets were trading with marginal losses.