BSE sensex down 90 points, Nifty drops below10k

Disappointing macro estimates on Wednesday laid investors low, as the Sensex and the Nifty squandered their early advantage and ran into losses ahead of the start of the earnings season. The International Monetary Fund (IMF) on Tuesday lowered India's growth projection to 6.7 per cent in 2017, lower than its earlier estimate, unnerving investors, analysts said. The Nifty cracked and slipped below 10,000, as investors went around picking profit. Caution remained the byword as June-September quarterly results kick off tomorrow, with TCS set to get off the block, and RIL the next on Friday. The beginning was positive as the Sensex raced past the 32,000-mark shortly after the open as domestic investors pressed on with buying. But, in the end, the index faltered and ended lower by 90.42 points, or 0.28 per cent, at 31,833.99, with profit-booking posing an overhang. The gauge had rallied 332.38 points in the past three sessions. At the close, the 50-share NSE Nifty nosed down by 32.15 points, or 0.32 per cent, at 9,984.80. During the day, it moved between 10,067.25 and 9,955.80.