Sensex, Nifty flat ahead of Fed policy meet

The Sensex on Tuesday opened marginally higher ahead of the US Federal Reserve policy meet.

The two-day US Federal Reserve's monetary policy meeting is scheduled to begin on Tuesday.

At 9.44 a.m., the S&P BSE Sensex traded 32.57 points or 0.08 per cent higher to 38,993.36. It opened marginally higher at 39,056.98 from its Monday's close of 38,960.79.

Nifty was up by 19 points or 0.16 per cent at 11,691.15.

"Investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions," said Deepak Jasani of HDFC Securities.

Jet Airways was locked in lower circuit, falling nearly 10 per cent to hit its 52 week low of Rs 61.50 per share after lenders decided to seek resolution in the bankruptcy courts.

"...Lenders have decided to seek resolution under IBC since only a conditional bid was received and requirement of the Investor for SEBI exemptions and resolution of all creditors is possible under IBC," the lenders said in a statement.

--IANS

ravi/in