Domestic Markets await cues from Fed - ZENMoney

Domestic indices opened the session on a negative note following mixed global cues as investors across the globe await Wednesday's monetary-policy decision by the US Federal Open Market Committee (FOMC). Markets remained cautious on fears of an early end to U.S. monetary stimulus and about weakening rupee that may further delay RBI rate cuts in coming months. RBI's warning of upward risks to inflation also weighed on the investors' sentiment during the day. Indices witnessed some buying interest in the afternoon session on account of buying in frontline blue chip counters. However, Indices failed to maintain the momentum and ended the day with losses.

On a sectoral front, Metal Sector came as top performer of the day followed by Tech, IT and Health Care sectors. Telecom stocks were traded higher after the Telecom Regulatory Authority of India (TRAI) announced reduction in the national mobile phone roaming charges, but said there will be no free national roaming as of now. IT Sector witnessed buying interest on the back of rupee depreciation. Banking Sector is the looser of the day followed by Consumer Durables, Capital goods, Power and Oil & Gas sectors. FMCG, Auto and Realty sectors have ended the day with marginal losses.

Source : Equity Bulls

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