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Sensex, Nifty End Higher; Global Markets Eye US Fed Statement
Benchmark indices ended the day higher, even as global markets remained tentative ahead of the policy statement from the US Fed, following the conclusion of a 2-day meet.
Gail, ITC and Mahindra and Mahindra were the major losers in trade. Shares in private sector banking major, Axis Bank fell sharply after the bank reported a poor set of numbers. That also dragged ICICI Bank lower, which fell a huge 3.50 per cent.
However, IndusInd Bank and Kotak Bank managed to buck the trend and rallied higher. Bharti Airtel was trading higher ahead of its quarterly numbers. Shares in Jindal Steel gained after reports that JSW Energy was set to bail out the company by acquiring assets.
Metal stocks saw some selling pressure today with Tata Steel, Hindalco and Vedanta among the early losers.
Midcap stocks ended the day lower with some selling pressure seen in PSU banking stocks like Allahabad Bank and Syndicate Bank.
Meanwhile, European markets were trading marginally higher with the German DAX and the French CAC up in trade.
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