The Federal Reserve also raised growth forecasts to 2.4%-2.9% from 2.2%-2.7% estimated in January and brought down forecasts for employment, thus boosting global market sentiments.

The Sensex was trading at 17148.53, down 2.76 points or 0.02% and the Nifty was trading at 5198.70 lower 3.30 points or 0.06% at 9.30 am IST. The BSE Consumer Durables indice rose 0.48%, while the Realty indice rose 0.39%.

Shares of Sterlite Industries dropped 0.60% in morning trade after the company posted a 34% dip in its Q4.

Among the stocks that gained today in the morning trade were the Ambuja Cement, ACC, Mahindra and Mahindra and Grasim.

While on the losing side, the stocks that failed to lure investors in the morning trade were IDFC, BHEL, Ranbaxy Laboratories and BPCL.

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