Sensex, Nifty Fluctuate Ahead Of Fed Verdict
(RTTNews) - Indian shares fluctuated in early trade on Wednesday as caution prevailed ahead of a Federal Reserve meeting later in the day, where the U.S. central bank is expected to initiate a rate cut cycle.
The benchmark S&P/BSE Sensex was up 52 points at 83,131 while the broader NSE Nifty index was up 9 points at 25,428.
Tech stocks were coming under selling pressure, with LTI Mindtree, Wipro, TCS, Infosys and Tech Mahindra tumbling 2-3 percent.
VST Industries fell 2.1 percent after data showed ace investor Radhakishan Damani reduced stake in the company at the end of June quarter.
On the positive side, ITC, SBI Life, Bajaj Finance, Shriram Finance and Hero MotoCorp were up 1-3 percent.
Reliance Power jumped 5 percent after settling a Rs. 3,872 crore loan and making its foray into the renewable energy and storage sector.
Torrent Power rallied 2.2 percent on winning a 1,500 MW pumped hydro storage project from Maharashtra State Electricity Distribution Co Ltd (MSEDCL).
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