BSE Sensex News | Indian Sensex | NSE Newsletter

The BSE Sensex and NSE Nifty were volatile in early trade as the global markets moved into consolidation mode ahead of decision by the Federal Reserve in its policy meeting today.

The BSE benchmark rose 17.40 points to 18,014.73 and the NSE benchmark was up 0.45 point at 5,431.45. The market had priced in the favorable outcome of German’s Constitutional Court ruling on ESM and Dutch polls yesterday; now all eyes are on Federal Reserve's policy meeting that will be at 11:45 hours IST today. Economists feel the Fed in all likelihood should extend its forward rate guidance atleast to mid 2015.

Michael Gapen of Barclays expects the Fed to extend its rate guidance into 2015 and launch an open-ended asset purchase program. "We believe that the treasury market is not yet adequately pricing in the Fed's resolve to ease monetary policy," he added.

Back home, ICICI Bank, Wipro, Larsen & Toubro, ONGC, NTPC, ACC, Sun Pharma, Maruti Suzuki and Bajaj Auto were supporting the market. Oil retailer BPCL gained 1% ahead of meeting of cabinet committee on political affairs today to decide on fuel price hike. Via

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