Final Trade: Indices Trade Lower; Nifty Slips Below 16,500, Sensex Sheds 498 Points

Tracking volatility in the global markets ahead of the US Federal Reserve meeting, the Indian market declined nearly one per cent on closing basis on Tuesday. At the end of trading, the 30-share BSE Sensex lost 498 points to close at 55,268. While NSE Nifty50 slipped 147 points and closed at 16,484 level.