The market has opened on tepid note as investors await outcome of two-day Federal Reserve's meeting that starts today. The Fed is widely expected to hike interest rates for the first time in 2016 at a two-day meeting, with markets pricing in a nearly 100 percent chance of a quarter percentage point increase to the Fed's target range of 0.25 to 0.50%.
The Sensex is up 26.49 points or 0.1% at 26541.73, and the Nifty up 4.05 points at 8174.85.
Tata Motors, Tata Steel, Wipro, Dr Reddy's Labs and ONGC are top gainers while BHEL, Sun Pharma, M&M, ICICI and Asian Paints are losers in the Sensex. The Indian rupee opened marginally lower at 67.47 per dollar versus 67.42 Friday.
Natco Pharma has launched generic Tamiflu capsules, used for the treatment of influenza, in the American market after the final nod from the US health regulator in Aug 2016.
Alkem Laboratories said the US health regulator has issued three observations after inspection of the company’s API facility at Ankleshwar in Gujarat.
Coal India Q2 profit seen down 15%, realisations may be weak
Asian shares were on tenterhooks on Tuesday as investors awaited the Federal Reserve's meeting that begins later in session for clues on the outlook for US monetary policy, while crude oil prices pulled back after their surge to 18-month highs.
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