INDIAN
BENCHMARKS we’re
trading in negative trend in the morning trading session with negative bias
tracking mixed global cues. Investors are keenly awaiting the outcome of the
two-day US Federal Reserve policy meet which began yesterday. The Federal
Reserve's two-day monetary policy meeting will end today.
On Tuesday, benchmark
indices closed lower dragged by pharma shares after the government notified a
ban on about 300 fixed dose combination (FDC) drugs.
At 9:30 AM BSE
SENSEX was at 24500.03, down by 51.14 points or by 0.21% while the NSE Nifty
was at 7461.9, up by 1.3 points or by 0.02%. The top gainers of the BSE Sensex
pack were BHEL 1.32%, ITC 0.80%, L&T 0.57%, Hero MotoCorp 0.54%, Tata
Steel 0.53%, among others. The top losers of the BSE Sensex pack were Asian
Paints 1.59%, Dr. Reddy's Laboratories 1.47%, Bharti Airtel 1.27%, Bajaj Auto
1.10%, HDFC 0.97%, among others. The Market breadth, indicating the overall
strength of the market, was strong.
Among overseas markets, Asian shares were mixed on Wednesday while
the dollar dithered as markets waited anxiously for the Federal Reserve to
provide guidance on the risk of US rate hikes this year. While no move is
expected at this meeting it does include updates of Fed members' economic
projections and a news conference with Chair Janet Yellen, events that have
caused violent market reactions in the past. Investors put discretion before
valour and nudged MSCI's broadest index of Asia-Pacific shares outside Japan
down 0.1%. Japan's Nikkei took a knock from a firmer yen and slipped 0.8%
Trend in FII flows: The FIIs
were net sellers of Rs -54.01 Cr in the cash
segment on Tuesday while the DIIs were net buyers of Rs -304.31 Cr, as per the
provisional figures released by the NSE.
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