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Sensex, Nifty open flat ahead of Fed policy outcome

In the Sensex kitty, 13 stocks were in the green and 18 were in the red.

, ETMarkets.com|
Mar 20, 2019, 09.54 AM IST
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BCCL
BSE-4---BCCL
Among the sectoral indices, IT, realty and technology were trading with decent gains.
NEW DELHI: Caution in global markets ahead of US Fed policy outcome extended to the Indian market as equity benchmarks Sensex and Nifty opened almost flat on Wednesday.

Asian shares slipped from six-month highs on profit-booking ahead of a policy decision by the US Fed amid speculation on the course of future rate hikes.

An uptick in crude oil prices and rupee's fall against the US dollar weighed on the sentiment.

Oil prices held close to four-month highs on expectations that Opec would continue production cuts through the end of the year and after data from the American Petroleum Institute (API) showed a surprise draw-down on crude inventories, Reuters reported.

The rupee on Wednesday opened 9 paise down at 69.05 against the US dollar on some demand for the greenback from importers. Snapping its six-day winning run, the local currency on Tuesday settled 43 paise down at 68.96 against the dollar.

Around 9:25 am, the BSE Sensex was 7 points, or 0.02 per cent, up at 38,370, while Nifty was 3 points, or 0.03 per cent, down at 11,529. BSE Midcap and Smallcap indices were trading almost flat.


In the Sensex kitty, 13 stocks were in the green and 18 were in the red. Infosys, Vedanta, L&T, Bharti Airtel and Axis Bank were among the top gainers in the Sensex pack of stocks. On the other hand, NTPC, Bajaj Auto, ONGC, Coal India, IndusInd Bank and Kotak Mahindra Bank were among the top losers in the Sensex index.

Among the sectoral indices, IT, realty and technology were trading with decent gains. However, oil & gas, energy and power indices were among the top losers.

Meanwhile, Foreign portfolio investors (FPIs) bought Rs 2,132.36 crore worth of domestic stocks on Tuesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,253.67 crore, data suggested.
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