Sensex, Nifty bounce back to end losing streak amid caution ahead of US Fed meet

Sensex pared its early losses to close 300 points higher above the 59,000 mark after a turbulent start, to end its losing streak despite global apprehension before the US Federal Reserve’s meeting. Nifty also made marginal gains to close higher at 17,622 points, thanks to FMCG, auto and finance stocks performing well.

Banking and IT stocks also helped indices bounce back later in the day, after being bogged down initially by weak global cues. On the other hand metal and real estate stocks were the laggards in Indian markets.

Elsewhere in Asia, Japanese markets remained closed for holidays, while Chinese stocks kept falling for the fourth day in a row. Caution about interest rate hikes also kept European markets subdued.