At 9.18 am, the BSE Sensex was trading 63 points or 0.10% lower at 61,058. Nifty50 was trading at 18,117, down 28 points or 0.16%.
“Globally markets are waiting for the Fed commentary tonight. 75 bp rate hike is given and already discounted by the markets. So it will be the Fed’s commentary and probable guidance that would be market-moving. The Fed is likely to continue with its hawkish stance but any mildly dovish signal will be positive for markets,” V K Vijayakumar, Chief Investment Strategist at
said.
“Q2 results are panning out on expected lines. A notable feature is the superior performance of the premium segment particularly in automobiles and the very good results of financials, particularly banking,” Vijayakumar said.
Among Sensex stocks,
, , , , , and were the top losers. However, , , Dr Reddy’s Labs, , and opened higher.
Sectorally, the Nifty Auto plunged 0.60% and Nifty IT fell 0.56%. Nifty Metal and Nifty Realty opened higher. In the broader market, Nifty Midcap50 fell 0.16% while Smallcap50 increased 0.06%.
On Tuesday, Dow Jones Industrial Average plunged 0.24%, S&P 500 fell 0.41% and Nasdaq Composite dropped 0.89%.
In early trade in Asian markets, Japan’s Nikkei 225 dropped 0.11% and South Korea’s Kospi fell 0.04% while China’s Shanghai Composite advanced 0.88%.
The Indian rupee fell 0.01% to 82.69 against the US dollar in early trade on Wednesday. Meanwhile, the dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.19% to 111.26 level.
