Market Wrap: Sensex slips 500 pts, Nifty ends below 24,200 as Fed rate cut worries extend sell-off

Nifty closed 137 points lower on Wednesday ahead of its Thursday weekly expiry and as caution prevailed ahead of the U.S. Federal Reserve interest rate decision due at midnight. Selling in heavyweight lenders HDFC Bank and ICICI Bank weighed on the benchmarks.