Sensex Opens Higher Ahead Of US Fed Decision; Global Cues Strong

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Markets opened the day higher led by strong cues from across the globe and ahead of the conclusion of the 2-day meeting of the US Federal Reserve today.

Sensex Opens Higher Ahead Of US Fed Decision; Global Cues Strong
The Sensex was trading higher by 99 points, while the Nifty gained 23 points in trade. Bulk of the gains in initial trade came from gains in defensives like FMCG and IT. Leading the gainers were Hindustan Unilever, Infosys, Asian Paints and Cipla from the Nifty.

Jubilant Lifesciences gained a robust 5 per cent after reports that the company had increased price of vitamin B3 drug Niacinamide by 10 percent.

Banking shares were pretty much flat in trade with Yes Bank and ICICI Bank seeing marginal gains. Ramky Infra rallied a huge 14 per cent after reports that the company intends to monetise operational road assets.

Shares in BPCL fell after reports that the government will start inter ministerial consultations on selling 3 percent stake in the company.

Midcap shares were having a quiet session in trade with select housing finance company shares like Indiabulls Housing and Dewan Housing gaining a huge 4 per cent.

Meanwhile, markets across Asia were trading with gains led by the Singapore Strait Times and the Jakarta Composite. All eyes are now focused on the statement by the US Federal Reserve, which will conclude its 2-day policy meet. Analysts will watch out for any announcement or direction on interest rate hikes in the US.

Read more about: sensex, nifty
Story first published: Wednesday, June 17, 2015, 9:39 [IST]
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