Nifty slips below 9,100 ahead of Fed outcome; IT stocks drag

The Nifty50 index had hit its all-time high in the previous session

The benchmark indices on Wednesday continued to trade flat tracking negative trend seen in Asian markets as investors awaited the outcome of US Federal Reserve's two-day policy meeting, which will conclude later in the day.

The Nifty50 index had logged its fresh all-time high of 9,123 in the previous session. 

At 11:11 am, the S&P BSE Sensex was trading at 29,440, down 3 points, while the broader Nifty50 was ruling at 9,090, up 3 points. 

In the broader market, the BSE Smallcap and BSE Midcap indices outperformed the frontline indices to rise 0.7% each. 

"Yesterday’s peaks were held, and