Equity indexes fell for the third day in a row on Tuesday, with the Sensex down 375 points in early trade, mirroring poor global markets as investors stayed cautious ahead of the outcome of the Federal Reserve meeting.

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Foreign money outflows have remained unabated, weighing on domestic stock markets.

Sensex was down 374.72 points at 52,471.98. The Nifty Index fell 100.15 points to 15,674.25.

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Asian Paints, Tech Mahindra, IndusInd Bank, HDFC Bank, Titan, and HDFC were the Sensex pack’s main laggards in early trade. Bharti Airtel, Power Grid, NTPC, M&M, and Bajaj Finserv, on the other hand, were among the gainers.

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Markets in Seoul, Tokyo, Hong Kong, and Shanghai were trading down in mid-session trades elsewhere in Asia. On Monday, stock markets in the United States finished substantially down.

On Monday, the Sensex fell 1,456.74 points, or 2.68%, to 52,846.70. The Nifty fell 427.40 points, or 2.64%, to 15,774.40.

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“The Fed is scheduled to make its next policy announcement on Wednesday and investors will be highly focused on any clues for how aggressive the central bank intends to be in raising rates,” said Mohit Nigam, Head – PMS, Hem Securities.

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According to exchange statistics, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Monday, selling shares worth Rs 4,164.01 crore.

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Meanwhile, Brent crude, the international oil benchmark, dipped 0.02% to USD 122.24 a barrel. The rupee recovered from its all-time low and rose by 2 paise to 78.02 against the US dollar in early trade on Tuesday.