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Markets end lower ahead of crucial Fed meet

 Markets end lower ahead of crucial Fed meet
Indian markets closed the day lower, like most other markets across the globe, ahead of a crucial Federal Meeting decision which might hint at a withdrawal of stimulus measures in the US.

The Sensex ended the day with losses of 97 points (provisional), while the Nifty closed lower by 36 points. Among the top gainers in trade were Tata Steel, which rallied almost 4 per cent on value buying at lower levels. Other stocks that gained were Kotak Mahindra, Sesa Goa, Reliance Infra and ACC.

Infosys too rallied following a drop in the Indian rupee today. Reliance gained in trade today following hopes that the government would consider a hike in gas prices this week.

Max India also had a good session in trade today after reports that the company plans to hive off its speciality films division.

Among the top losers in trade were Ranbaxy Laboratories, Bank of Baroda, Ultratech Cement and NTPC.

Banking stocks ended the day weak with notable losers from the space being HDFC Bank, Punjab National Bank and IDBI Bank.

Real Estate stocks had a good day in trade with HDIL, Indiabulls and Unitech all ending the day with gains.

Meanwhile, markets in Europe were trading lower, while most of Asia ended the day with gains.

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