Markets set for weak opening

Indian Indices:

The key domestic benchmarks are tipped to open lower today tracking a bearish trend in Asian markets as caution persists ahead of the two-day US Federal Reserve policy meet beginning today where the world’s top central bank may offer some cues over the timing to raise interest rates for the first time since 2008. SGX Nifty is trading 17.50 points lower.

The Nifty fell nearly 1% on Monday to mark its biggest single-day fall in nearly five weeks as blue-chips such as ITC Ltd(ITC.NS) declined on anxiety after China’s factory output slowed and caution ahead of the Federal Reserve meeting this week.

On Monday (September 15, 2014)  Sensex ended down 244.48 points at 26816.56 and Nifty slipped 63.50 points at 8042.00.

Global Market:

Asian shares cautiously edged higher on Tuesday as investors awaited a U.S. Federal Reserve meeting beginning later in the session, as expectations of a more hawkish Fed stance on monetary policy underpinned the dollar.

U.S. stocks closed mostly lower on Monday with losses led by technology and small-cap stocks as investors continued to unload riskier position ahead of this week’s pivotal Federal Reserve policy meeting.

European shares slipped on Monday, with stocks trading in a narrow range before Scotland votes on independence and the Federal Reserve holds its latest policy meeting, both events that are due later this week.

Major Headlines of the day.

Tata Motors global sales down 10% in August.

Wipro bags deal from Saudi Electricity Company.

RIL to re-open fuel outlets.

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