Sensex, Nifty slightly higher in prudent trading


(RTTNews) – Indian stocks posted a mixed performance Wednesday morning, with investors largely taking cautious measures as they anticipate the Federal Reserve’s move.

The Fed, which is expected to announce its monetary policy later today, is expected to largely keep rates unchanged for now, but may revise the outlook for its asset purchase program.

The minutes of the last Fed meeting indicated that the central bank was ready to start reducing asset purchases by the end of the year.

Much of the activity is equity-specific, with investors monitoring company news for direction.

The 30-stock BSE Sensex benchmark, which rose to 59,178.44 after falling to 58,886.83 earlier, is up 64.50 points or 0.11% to 59,069.77.

The National Stock Exchange’s Nifty Index, which fell to 17,528.95, was up 14.10 points or 0.08% to 17,576.10.

Tech Mahindra climbs nearly 4.5%. NTPC, Mahindra & Mahindra, HCL Technologies, IndusInd Bank and Reliance Industries are up 1-2%.

Infosys gains 0.75%. The IT major announced a collaboration with digital workflow company ServiceNow to provide enterprise-level service management to customers in manufacturing industries.

Maruti Suzuki, Bajaj Auto, Bharti Airtel and Tata Consultancy Services are also progressing in positive territory.

HDFC is down about 1 percent. Nestlé India, HDFC Bank, Axis Bank, Hindustan Unilever and Dr Reddy’s Laboratories are also weak.

Tata Power has reportedly relaunched fundraising efforts for its renewable energy business and is seeking to raise up to Rs.5,500 crore for its subsidiary Tata Power Renewables Energy Limited. The stock gained nearly 1%.

KEC International Limited is up 0.8% after the company announced that it had booked orders worth Rs 1,157 crore in various business segments, including for projects in the Middle East, in Africa and the Americas.

Shares of Nucleus Software Exports Limited are soaring nearly 11% after the company said its board would consider repurchasing shares on Friday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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