Sensex, Nifty End Marginally Lower Ahead Of Fed Decision

Nifty hits record high in morning trade, Sensex surges 191 points

Nifty hits record high in morning trade, Sensex surges 191 points

The broader NSE Nifty was down 0.01 percent at 10,146.95 as of 12:10 PM (IST), while the benchmark BSE Sensex was 0.08 percent higher at 32,429.34. The gauge had gained 610.64 points in the previous seven sessions.

The Fed is due to announce its decision at 1800 GMT on Wednesday and is widely expected to keep rates unchanged after a two-day meeting but could begin paring its bond holdings, with reductions likely to start in coming months.

At 3.30 p.m., the Nifty50 provisionally closed at 10,147.55 points - marginally lower by 5.55 points or 0.05 per cent. FII's passive trading approach with capital inflow limited to primary market and debt also might have weighed down the momentum.

"Indian shares were little changed on Wednesday, while market heavyweight Reliance Industries hit a record high as a cut in mobile interconnect fee is seen benefiting the company's telecom unit", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls. There would be no such charge from January 1, 2020, TRAI said.

Bharti Airtel recovered from early losses to close half a percent higher while Idea Cellular shares tumbled 3.7 percent. It closed at Rs 847.10 per share - up 0.85 per cent.

Arsenal battle to deserved point at 10-man Chelsea
However, Chelsea were reduced to 10 men in the 87th minute when David Luiz was shown a straight red card for late challenge. Alexandre Lacazette was in the right place for the rebound but he could not keep his effort from sailing over the bar.

On the 30 stock Sensex, Larsen and Toubro (2.20 percent), Bajaj Auto (1.86 percent) and Tata Motors (1.73 percent) were the top gainers.

Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank. Unilever (down 1.16 per cent), ICICI Bank (down 1.05 per cent) and Ambuja Cements (down 1.03 per cent) were losing in the Nifty50 index.

Hong Kong's Hang Seng was trading higher by 1.07 per cent, while Shanghai Composite rose 0.25 per cent in late morning trade.

Foreign portfolio investors (FPIs) remained passive as they sold shares worth a net Rs 1,719.62 crore.

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