Nifty hovers around 9100 as investors await Fed rate decision

Equity benchmarks continued to be lacklustre in morning as investors awaited Federal Reserve rate decision due tonight, and digested BJP’s landslide victory in Uttar Pradesh.

The 30-share BSE Sensex was up 9.67 points at 29,452.30 and the 50-share NSE Nifty rose 6.75 points to 9,093.75 while the broader markets outperformed benchmarks

The BSE Midcap and Smallcap indices gained 0.8 percent each as about 1349 shares advanced against 936 declining shares on the BSE.

Idea Cellular soared over 12 percent intraday after reports stated that US-based ATC was close to completing a buyout of the firm’s tower business.

Infosys and TCS fell 1.7 percent after rupee hit 16-month high of 65.52 against the US dollar, up 29 paise from previous close.

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Nifty hovers around 9100 as investors await Fed rate decision