The key domestic benchmarks are likely to open higher today tracking a firm trend in fellow Asian markets ahead of the US Federal Reserve policy decision today in which it may offer cues over the timing to raise interest rates. SGX Nifty is trading 47.50 points higher.
The sharp losses in the Sensex in the previous two sessions may offer investors, a good bargain buying opportunity, in equities at existing levels, supporting Dalal Street.
The BSE Sensex and Nifty fell over 1% on Tuesday, posting its biggest single-day decline in 1-1/2 months as blue-chips slipped on caution ahead of the US Federal Reserve’s two-day meeting, while foreign portfolio sales also weighed on sentiment.
On Tuesday (September 16, 2014) Sensex ended down 324.05 points at 26492.51 and Nifty slipped 109.10 points at 7932.90.
Asian shares crept cautiously higher on Wednesday after Wall Street rebounded on speculation the Federal Reserve would maintain a pledge on low rates when a two-day policy meeting ends later in the session.
US stocks rose on Tuesday and the S&P notched its best performance in a month after a report shifted investor expectations for the Federal Reserve’s policy statement due on Wednesday.
European stocks fell on Tuesday, with a regional index hitting a two-week low, as this week’s referendum on independence in Scotland and the Federal Reserve’s policy meeting kept investors on edge.
Major Headlines of the day.
Jet Airways ties up with Apollo Hospitals to train ground staff.
IOC cuts refinery output as rains hit fuel demand.
Aurobindo gets USFDA approval for anti-infection drug.