Nifty falls 15 pts as volatility continues; Fed outcome weighs

Ahead of the US Federal Reserve's two-day policy meeting, the benchmark Nifty today moved down by 15 points to end at 8,633.15 on the National Stock Exchange(NSE) on interest rate hike fears.
It was another volatile session ahead of the Fed meeting beginning on Tuesday as participants preferred to book profits at every rise.
Despite a firm start, recovering some ground following the big market sell-off last week, key indices failed to maintain its initial buoyancy and endured a roller-coaster ride throughout the session before concluding with modest losses.
The broad-based 50-share Nifty opened firm at 8,656.75 and swung widely between a high of 8,663.55 and a low of 8,612.00 before settling at 8,633.15, a loss of 14.60 points, or 0.17 per cent, over its last close.

Among the sectoral indices, CNX Metal suffered the most on the back of continued unwinding in key heavyweights, sliding 1.59 per cent followed by Fmcg 1.16 per cent, Infra 1.12 per cent and Energy 0.76 per cent. However, Banking, Technology, Realty and PSU Bank outperformed the benchmark indices.
Major losers from the index pack included HDFC, Reliance, ITC, Bharti Airtel, Sesa Sterlite, TCS, L&T, Kotak Bank, HUL, Dr Reddy, NTPC, Hindalco, Cipla, Cairn India, ONGC, M&M, Tata Motors, Lupin and Ultratech.

Gainers were Infosys, HDFC Bank, Sun Pharma, HCL Tech, Asian Paints, ICICI Bank, Bank of Baroda, SBI, DLF, Wipro, BHEL, Hero MotoCorp and Tata Power.

Meanwhile, barring South Korea, most Asian markets ened higher on growing expectations of more Chinese stimulus bets.
European equities are trading firmly higher with Germany's benchmark index, the DAX rallying beyond the psychologically important 12,000-mark for the fist time following ECB's bond-buying program and also euro's continuous downslide.
Turnover in the cash segment dropped to Rs 16,725.88 crore against Rs 20,173.58 crore last weekend. A total of 7,386.41 lakh shares changed hands in 68,02,734 trades. The market capitalisation at NSE stood at Rs 100,56,700 crore.