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Nifty to tread with caution, open soft; all eyes on Fed

In the US stocks closed lower as investors eyed the Federal Reserve meeting later in the week.

The global markets closed lower yesterday and the SGX Nifty too is trading in the negative down minus 6.50 points up at 7867 suggesting a flat to negative opening for the Indian equity market Tuesday.

However, yesterday market recouped all its losses for this month – a late rally lifted sentiment as Nifty moved closer to 7,900 and Sensex rallied almost 250 points.
    
Asian markets too have opened up mixed this morning. Japan and Korea are higher but the Taiwanese and Singapore markets are trading with mild cuts.  

The Nikkei has headed north this morning ahead of the Bank of Japan’s policy decision.Consensus is for the central bank to maintain its expansionary monetary policy but some analysts are not ruling out the possibility of additional stimulus given recent growth concerns.

However, in the US stocks closed lower as investors eyed the Federal Reserve meeting later in the week.

In Europe too, stocks closed mostly lower as investors are cautious ahead of the US Federal Reserve’s interest rate decision on Thursday

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