Sensex remains rangebound ahead of Fed meet outcome, Nifty hits 9100

IT stocks TCS and Infosys were the top losers on both the indices, while Adani Ports,  Reliance, Idea Cellular and Bank of Baroda were the top gainers on Sensex and Nifty.

The Indian rupee strengthened against the dollar, setting a fresh 16-month high, since November 2015. The Indian rupee was 65.54 against the US dollar.

Equity benchmarks remained strong, but traded in a rangebound manner ahead of the US Federal Reserve’s policy meeting outcome. Investors are largely factoring in a rate hike in the US on the back of strong economic data. The Nifty touched 9100 in intraday trade on Wednesday.

Shares of MRF soared 2.76 per cent, JK tyres climed 3.22 per cent and Apollo Tyres rose 1.93 per cent.

IT stocks TCS and Infosys were the top losers on both the indices, while Adani Ports, Reliance, Idea Cellular and Bank of Baroda were the top gainers on both the indices.

Benchmark indices were moderately positive amid consolidation ahead of Federal Reserve decision tonight.

The 30-share BSE Sensex was up 32.94 points at 29,475.57 and the 50-share NSE Nifty gained 9.20 points at 9,096.20.

Source: moneycontrol.com