Equities trade flat on caution ahead of US Fed’s meet

Equities trade flat on caution ahead of US Fed’s meet

Mumbai: Key Indian equity indices traded on a flat-to-positive note amid volatility during the mid-afternoon trade session on Tuesday as caution prevailed ahead of the US Federal Reserve’s March 20-21 meeting.

Around 1.20 p.m., the wider Nifty50 of the National Stock Exchange (NSE) was trading higher by 16.50 points or 0.16 per cent at 10,110.75 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,876.48 points, was trading at 32,968.42 points — up 45.30 points or 0.14 per cent from the previous session’s close.

The Sensex had so far touched a high of 33,102.74 points and a low of 32,810.86 points during the intra-day trade.

The BSE market breadth was bearish with 1,410 declines and 1,093 advances.

“Indian markets opened lower today, tracking Asian markets amid caution ahead of US Federal Reserve’s Open Market Committee (FOMC) meet starting later today,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

“Investors will be looking forward to the latest developments in Parliament following the no-confidence motion moved by Telugu Desam Party (TDP) after it broke away from the BJP-led NDA following the Centre’s refusal to grant Special Category status to Andhra Pradesh,” he added.

On Monday, the benchmark indices hit their lowest levels since December 6, 2017, as India’s widening Current Account Deficit (CAD), along with weak global cues ahead of the US Federal Reserve March 20-21 meeting, dented investors’ risk-taking appetite.

The NSE Nifty50 declined by 100.90 points or 0.99 per cent to close at 10,094.25 points, while the BSE Sensex closed at 32,923.12 points — down 252.88 points or 0.76 per cent from its previous close.