BSE Sensex, NSE Nifty trade flat ahead of FOMC meet

Written by fe Bureau | Mumbai | Updated: Mar 19 2014, 20:27pm hrs
BSE SensexThe BSE benchmark, the Sensex was trading 46.28 points or 0.21% higher at 21,856.08 points, while the NSE's Nifty was trading 15.20 points or 023% higher at 6,519.40 points at 3.00 pm IST. (AP)
The benchmark indices, BSE Sensex and NSE Nifty were trading marginally higher on Tuesday ahead of the two-day meet of the members of the Federal Open Markets Committee (FOMC), who would decide on the future course of QE tapering.

The BSE benchmark, the Sensex was trading 46.28 points or 0.21% higher at 21,856.08 points, while the NSE's Nifty was trading 15.20 points or 023% higher at 6,519.40 points at 3.00 pm IST. Earlier on Tuesday, the Sensex and Nifty touched their lifetime highs of 22,040.72 points and 6,574.95 points, respectively. The FOMC meet begins on Tuesday.

Markets Top Gainers, Markets Top Losers

According to experts, the likelihood of a BJP-led alliance coming to power at the Centre and a stable rupee has kept Indian markets strong. Even as global stocks have been under pressure, rupees behaviour due to the steps taken by the RBI coupled with expectations of a BJP-led government has kept markets resilient, said Vinay Khattar, head (research), retail capital markets, Edelweiss.

Among sectoral indices, the BSE Oil & Gas (1.20%), BSE FMCG (1.66%) and BSE Power (1.22%) were the major gainers. Among individual stocks, Maruti Suzuki India (7.61%), State Bank of India (2.75%) and Coal India (2.33%) were the major gainers on the 30-share Sensex.

Among Asian indices, the Nikkei (0.94%), Hang Seng (0.51%), Kospi (0.66%) and Taiwan Taiex (0.37%) were the major gainers.

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