The S&P BSE Sensex which rallied over 300 points in trade on Wednesday failed to hold on to momentum and closed with gains of just over 100 points. The Nifty failed to close above its crucial 200-days exponential moving average (DEMA) for the second day in a row.

Benchmark indices were off day's high in the afternoon as investors turned cautious ahead of the outcome of US Federal Reserve's policy meeting due later today. The S&P BSE Sensex and Nifty Bank slip over 200 points from intra-day highs

The Nifty slips 72 points from its intra-day high of 10,227.30 to close below 200-DMA. But, the market breadth turns in favour of declines at the close. The index closed 30 points higher at 10,155 but before its crucial 200-DEMA placed around 10,165\.

The S&P BSE Sensex reclaimed Mount 33K as the index closed 139 points higher at 33,136\. It rose to an intraday high of 33,354.93 and an intraday low of 33,070.53\.

The S&P BSE Midcap index closed 0.2 percent higher while the S&P BSE Smallcap index rose 0.3 percent.

On the sectoral front, telecom, realty, capital goods, finance, power stocks rallied while metals, healthcare, and basic material stocks saw some more profit booking.