Sensex opens higher, Nifty weak at 7750
New Delhi: The Sensex is up 92.40 points or 0.4 percent at 25412.84, and the Nifty up 24.35 points or 0.3 percent at 7725.25 ahead of the the FOMC meeting tonight. Wipro and Tata Motors are major losers while NTPC, TCS, HDFC and Tata Steel are among the gainers.
The Indian rupee has opened marginally higher at 66.9 per dollar compared to 66.92 a dollar in previous session. Market experts believe that a narrow range for the rupee will lead between Rs. 66.90-67.05/USD today.
The Federal Reserve is expected to announce a hike in interest rates when its two-day policy setting meeting ends later in the day. It would be the first US rate hike in nearly a decade, signaling the beginning of an end to an expansionary monetary policy that has supplied a tidal wave of liquidity to risk asset markets globally.