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Markets End The Day Lower Ahead Of US Fed Meet


Benchmark indices ended the day lower, as Global cues were weak ahead of the 2-day US Fed Meet. The US central bank is widely expected to keep interest rates steady but, if it surprises with a rate hike, it could spook global markets.


Markets End The Day Lower Ahead Of US Fed Meet
The Sensex ended the day lower by 111 points, while the Nifty ended the day lower by 32.50 points. Leading the set of losers were heavyweight index stocks like ITC, Reliance Industries and Infosys.

On the other hand major gainers were ONGC, Tata Steel and Lupin Labs. Shares in Jubilant Foodworks had a bad day in trade and slumped more than 6 per cent, after its CEO and board member resigned from the company citing personal reasons.

Among the smaller cap stocks, Sharon Bio Medicine surged almost 10 per cent, after the company received approval from the USFDA for its plant based in Maharashtra.

Hotel Leela Venture gained almost 3 per cent, after the company got shareholder nod for sale/transfer of company's undertaking at Chennai & Delhi

Two-wheeler stocks came in for some selling pressure in trade with stocks like Hero Motor Corp and Bajaj Auto, trading lower.

Meanwhile, most of the European markets were higher, led by gains in the German DAX and the French CAC. The rupee was trading marginally higher at 66.86 to the US dollar.

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