Sensex Opens Lower Ahead Of US Fed Decision

Business

oi-Sunil

By Sunil Fernandes

Updated: Wednesday, October 28, 2015, 9:43 [IST]

Benchmark indices opened the day lower as Asian markets fell ahead of the conclusion of the 2-day US Fed meet, which is likely to throw light on the direction of interest rate movement in the US.

Most of the Asian markets were trading lower ahead of the Fed outcome. The Chinese Shanghai Composite, the Hong Kong's Hang Sang and the Korean Kospi were all trading with losses. Banking shares saw huge losses with Axis Bank slumping a huge 6 per cent in trade. ICICI Bank, Yes Bank and IndusInd were the other losers.

Shares in Ambuja Cements was marginally lower ahead of its results due later today. Bharti Airtel was higher after the company sold its 700 towers in Burkina Faso to Eaton Towers.

IDBI Bank surged in a falling market after the government said that it would lower its stake in the bank. The stock was up almost 2 per cent in trade.

Bajaj Auto was once again among the gainers after the two-wheeler maker launched a family of cruiser bikes under the Avenger brand.

Eros International Media which has seen a sustained drop in its share price, since a sharp fall in the parent company's share price was up 2 per cent in trade.

Meanwhile, the rupee edged past the 65 levels and was last trading at 65.02 to the dollar.

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