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Sensex, Nifty Drift Lower As Investors Eye Fed Meet
(RTTNews) - Indian shares slipped into the red in cautious trade on Wednesday ahead of a Federal Reserve meeting later in the day that's expected to deliver a hefty interest-rate hike to fight inflation.
The benchmark S&P BSE Sensex slipped 77 points, or 0.2 percent, to 52,616, giving up early gains. The broader NSE Nifty index was down 30 points, or 0.2 percent, at 15,702.
LIC surged 4.5 percent after increasing its stake in non-banking finance company Capri Global Capital.
Engineers India rallied 2 percent after it has been appointed as project management consultant for Neyveli Lignite's 1,200 TPD lignite to methanol project.
GPT Infraprojects added 1 percent after incorporating a new subsidiary 'RMS GPT Ghana' at Republic of Ghana for manufacture of concrete sleepers.
SBI rose 0.7 percent after hiking deposit and lending rates.
Wipro edged up slightly on news it would increase its investment in Norway.
Shriram City Union Finance rose half a percent and PNB Housing Finance climbed 1.2 percent on fund raising reports.
Asian Paints gained half a percent. Weatherseal Fenestration is now a subsidiary of the company.
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