Sensex, Nifty end flat in cautious trade ahead of Fed's outcome

Sensex, Nifty end flat in cautious trade ahead of Fed's outcome

According to market observers, investors were cautious ahead of the two-day US Federal Reserve meeting slated for later in the evening (India time).

Meanwhile, S&P BSE Sensex was trading at 32,433.02, higher by 30.65 points or 0.09% and NSE Nifty stood at 10,151.10 level, up by 3.55 points or 0.03% on Wednesday.

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.

Sentiments remained upbeat for yet another session following healthy gains across Asian and a higher opening at European markets, traders said. The gauge had shed 21.39 points in the previous session.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. "The consensus is showing status quo in interest rate while investors are keenly looking for any announcement for trimming the balance sheet", said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

During the day, the Indian rupee strengthened by 6-7 paise to 64.26-27 against the U.S. dollar from its previous close at 64.33.

Indian shares ended largely unchanged on Wednesday as gains in market heavyweight Reliance Industries Ltd were more than offset by profit-taking in stocks such as ICICI Bank Ltd.

EPC company, NBCC announced on September 20 that the company received order worth Rs 4,000 crore order to build a housing complex for excise department in Mumbai.

The Sensex has so far touched a high of 32,499.88 points and a low of 32,399.84 during intra-day trade.

Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.

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.

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