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Sensex, Nifty Slip As Investors Await Fed Meeting Outcome
(RTTNews) - Indian shares fell slightly on Wednesday and the rupee slipped, as investors awaited the outcome of a Federal Reserve policy meeting later in the day that could offer additional cues on future rate hikes.
The Fed is widely expected to raise interest rates by another 75 basis points, the fourth such increase in a row, as it fights the worst inflation in four decades.
That said, investors are waiting for signs that the U.S. central bank is prepared to slow the pace of its rate hikes come December.
The benchmark S&P BSE Sensex fell 215.26 points, or 0.35 percent, to 60,906.09, snapping a four-day winning streak.
The broader NSE Nifty index settled 62.55 points, or 0.34 percent, at 18,082.85. Eicher Motors, Maruti Suzuki India, Apollo Hospitals Enterprise and Bharti Airtel fell 2-3 percent in the Nifty pack, while Tech Mahindra, ONGC, ITC, Sun Pharma and Hindalco rose between 0.8 percent and 1.6 percent.
Karnataka Bank soared 20 percent after posting record high quarterly net profit.
LIC Housing Finance plummeted 9 percent after reporting weak Q2 results.
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