Sensex remains rangebound ahead of Fed meet outcome, Nifty hits 9100
Equity benchmarks started off day on a flat note after rally in previous session and ahead of outcome of two-day Federal Reserve policy meeting tonight.
The 30-share BSE Sensex was down 3.76 points at 29,438.87 and the 50-share NSE Nifty fell 3.75 points to 9,083.25. About two shares advanced for every share falling on the BSE.
Reliance Industries, Cipla, Sun Pharma, Tata Motors, Wipro, Hindalco and Aurobindo Pharma were early gainers while Bharti Airtel, Larsen & Toubro, TCS, ICICI Bank, Asian Paints, HCL Technologies, Asian Paints and Bosch were early losers.
The Indian rupee opened marginally higher at 65.76 per dollar against previous day's closing of 65.82.
Yesterday the rupee closed at 16-month high at 66.82, which was last seen in November, 2015."The rupee has strong resistance at 65.80 levels and may trade sideways for the day. We expect the USD-INR pair to trade in a range of 65.80-66.30/dollar today."
The dollar was on tenterhooks in early trade as investors waited anxiously to see what clues the US Federal Reserve would soon reveal on its monetary policy outlook.