Market Is Likely To Open In Positive

Indian equities market ended amid weak global cues as caution ahead of the US Federal Reserve interest rate decision continued and quo policy of Bank of Japan to weigh on market sentiment. The Sensex ended at 25,705.93 down 150.77 points and the Nifty slipped 43.15 points to close at 7,829.10. The broader markets ended weak in line with the benchmark indices- BSE Midcap and Smallcap indices fell nearly 1% each.

The rupee ended marginally lower by three paise at 66.36 against the US dollar on Tuesday on fresh demand for the American currency from banks and importers amidst fall in equity markets despite greenback's weakness in overseas markets.

U.S. stocks rallied to a more than two-week high as investors eyed some of the final data reports leading into the Federal Reserve's key meeting. The Dow Jones Industrial Average gained 228.89 points, or 1.4%, to 16599.85, the highest close since Aug. 28. The S&P 500 gained 25.06 points, or 1.3%, to 1978.09. The Nasdaq Composite rose 1.1% to 4860.52.

European stocks finished higher Tuesday, bouncing back from morning losses and the prior day’s retreat. The Stoxx Europe 600 closed 0.8% higher to end at 356.43. France’s CAC 40 tacked on 1.1% to end at 4,569.37. In Frankfurt, Germany’s DAX 30 was up 0.6% to 10,188.13, while the U.K.’s FTSE 100 closed 0.9% higher at 6,137.60.

Asian shares advanced early Wednesday, following U.S. equities higher, as investors speculated that the Federal Reserve will refrain from raising U.S. interest rates this week. Japan’s NIKKEI 225 index rose 0.96%. South Korea’s Kospi index increased 1.72%. Australia’s S&P/ASX 200 Index added 1.33% and New Zealand’s NZX 50 Index gained 0.27%. China's Shanghai Composite index rose nearly 0.75%.

A SGX CNX Nifty Index future for September delivery was up 66 points at 7,889. Indian market is likely to open in positive. The Fed's highly anticipated two-day policy meeting to discuss interest rates kicks off Today.