Chennai, India (BBN) – The Sensex and Nifty opened the session marginally lower as investors turned wary ahead of Fed policy meet and key macroeconomic data to be released later today.
Traders see an 85-per cent probability for a 25 basis point hike to the Fed funds rate target and a 15-per cent chance of a 50 basis point hike, which would be the third rate hike this year, according to CME Group’s Fedwatch tool, reports The Hindu Business Line.
At 9.15 a.m., the 30-share BSE index Sensex was down 29.2 points at 33,426.59 and the 50-share NSE index Nifty was down 22.85 points at 10,322,25.
Asian shares took a breather on Tuesday after three straight sessions of gains, with markets consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.
MSCI’s broadest index of Asia–Pacific shares outside Japan dithered either side of flat having bounced 2 per cent in the past three sessions.
Moves were minor across the region, with blue chip Chinese shares off 0.2 per cent and Australia up 0.1 per cent. Japan’s Nikkei was likewise steady, after the index scored its highest close in 25 years on Monday.
Wall Street had been led higher by technology and energy stocks, with Apple Inc making the biggest contribution. The Dow rose 0.23 per cent, while the S&P 500 added 0.32 per cent and the Nasdaq 0.51 per cent.