Markets pare morning gains, Sensex slips below 30,000 ahead of Fed meet

The S&P BSE Midcap and the S&P BSE Smallcap indices gains 0.3% and 0.6%, respectively

The benchmark indices pared all its morning gains tracking mixed trend seen in global markets ahead of US Federal Reserve's two-day policy meeting which begins later in the day.

At 09:55 am, the S&P BSE Sensex was trading at 30,888, down 30 points, while the broader Nifty50 was ruling at 9,297, down 7 points.

In the broader market, the S&P BSE Midcap index shed initial gains to turn flat, while the S&P BSE Smallcap index was up 0.1%.

Going forward, a minor resistance for the Nifty is placed at 9,367, but looking at the weekly close, we expect it to be surpassed soon.