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Sensex, Nifty Trade With Caution; Eye Fed Meeting For Interest Rate Cues
Benchmark indices were trading with caution today ahead of the US Fed's two day meeting which concludes today and should provide hints on interest rate hikes in the US.
Leading the set of gainers were some of the PSU banking stocks like State Bank of India and Punjab National Bank which saw some traction in trade.
However, Tata Motors, NTPC and ONGC were among the losses in trade. Sonata Software was trading higher by 2 per cent on reports that Goldman Sachs had picked a stake in the company.
Sesa Sterlite was in the limelight after the government revoked an order for banning mining in the state of Goa. RIL was trading higher after BNP upgraded the stock to a buy.
Mid cap stocks also saw some losses with Voltas and Jain Irrigation among the losers. Meanwhile, markets across Asia were trading with caution ahead of the US Fed's decision on interest rates.
It is widely expected that US Open Market Committee, will drop the word patient from its guidance as regards interest rates.
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