Sensex pares losses, rises over 100 points ahead of US Fed meet

Sensex pares losses, rises over 100 points ahead of US Fed meet

NSE Nifty opened 0.4 percent lower at 10049.10.

Canara Bank shares tumbled more than 5 per cent, a day after the Central Bureau of Investigation (CBI) filed charges against a former chairman of the state-run bank and others over allegations that the officials helped a company defraud the bank of about $10.5 million taken in loans over four years ago.

The wider Nifty50 of the National Stock Exchange (NSE) edged higher by 30.10 points or 0.30 per cent to provisionally close at 10,124.35 points (at 3.30 p.m.).

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore on Monday, provisional data showed. "Back home, the rupee weakened due to widening current account deficit and led investors to remain cautious", Vinod Nair, head of research, Geojit Financial Services Ltd said.

Losses in ONGC, ICICI Bank, Yes Bank, RIL, HDFC Bank, Kotak Mahindra Bank, Coal India, NTPC, M&M, IndusInd Bank and ITC capped the gains.

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Tata Steel, Adani Ports, Tata Motors and Infosys were among the top gainers, rising up to 3%.

However, oil & gas, metal, bankex, PSU, realty and capital goods ended in the negative zone.

In other Asian markets, Hong Kong's Hang Seng fell 0.72 percent while Japan's Nikkei shed 0.09 percent.

Gold prices edged lower on dollar strength as investors looked ahead to the Fed and BoE meetings.

Shanghai dropped 0.3 percent, Singapore gave up 0.2 percent and Seoul retreated 0.4 percent, with Wellington, Manila, Taipei and Jakarta all sharply down.

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