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Sensex, Nifty volatile; Midcap, Smallcap indices outperform

In its last policy meeting of the year that kicks off later today, the Federal Reserve is widely expected to hike US interest rates for the first time since June 2006.

12:00

TheNewsInternational Team

12:15 pm Rupee Update:

Volatility in rupee continued as it pared early gains to rule almost flat, marginally up by one paise to 67.08 on demand from banks and exporters amid heightened uncertainties of US rate hike.

Earlier, the domestic unit opened higher at 67.03 against yesterday’s 27-month low of 67.09 at the Interbank Foreign Exchange Market. It appreciated further on dollar selling from banks to scale-back to 66.96 before quoting at 67.08 at 1030 hrs.

The rupee hovered between 67.09 and 66.96 during morning trade. Overseas, the US dollar was little changed against the basket currencies in early trade, as crude oil and equity prices took a breather after a recent slide.

Also read – Bank stocks a falling knife but you should catch them: Pro

12:00 pm Market Check

The market remained lacklustre in noon trade as investors are eagerly waiting for outcome of Federal Reserve’s two-day policy meeting that will begin tonight.

The 30-share BSE Sensex rose 32.01 points to 25182.36 and the 50-share NSE Nifty advanced 5.05 points to 7655.10. The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 0.2-0.4 percent.

The market breadth remained strong as about 1315 shares advanced against 934 declining shares on the Bombay Stock Exchange.

In its last policy meeting of the year that kicks off later today, the Federal Reserve is widely expected to hike US interest rates for the first time since June 2006.

The US central bank is expected to raise rates by a quarter of a percentage point at the end of its two-day meeting on Wednesday.

11:00

Nifty struggles below 7650; ICICI Bank, Tata Motors down

The market is still under pressure as all eyes are on the FOMC tonight. The Sensex is down 20.34 points at 25130 and the Nifty is down 12.80 points at 7637.25. About 1221 shares have advanced, 812 shares declined, and 133 shares are unchanged.

Read More »

10:00

Sensex, Nifty continue to consolidate; Reliance, HUL gainRead More »

Reliance Industries and Hindustan Unilever topped the buying list on Sensex, up more than 1.5 percent. ITC, Sun Pharma and ONGC gained 0.5-1 percent while ICICI Bank, Tata Motors, SBI, Wipro and BHEL fell 1-2 percent.

Read More »

09:15

Sensex opens flat, Nifty holds 7650; Sun Pharma gains 1%Read More »

Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.

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