Markets end flat as investors remain wary ahead of Federal reserve policy decision

The Sensex and Nifty recorded early gains but eventually ended flat as investors remained cautious ahead of the US Federal Reserve policy decision meeting scheduled later in the day.

The BSE Sensex ended with a loss of 16 points at 28,507. The BSE Sensex opened at 28,554 touched an intra-day high of 28,689 and low of 28,462.

The NSE Nifty closed with a loss of mere one points at 8,777. The NSE Nifty opened at 8,790 hitting a high of 8,827 and low of 8,757.30.

The Bank of Japan refrained from cutting interest rates from -0.1% at its monetary policy meeting, choosing instead to modify its existing policy framework.

Adani Ports, Bharti Airtel, GAIL, Axis Bank, Sun Pharmaceuticals and Power Grid were among the gainers, whereas Hero MotoCorp, Maruti Suzuki, Bajaj Auto and ONGC were among the losers.

Active buying activity was seen in telecom, realty, capital goods, consumer durables, utilities and  pharma sectors, while auto sector is showcased weakness on BSE.

In the international markets, the US Federal Reserve is scheduled to deliver their latest monetary policy decisions later on Wednesday.

Asian markets got off to sluggish  start. Shanghai Composite and Hang Seng are trading in red, while Nikkei 225 is marginally down. Wall Street closed flat on Tuesday.