Sensex, Nifty turn choppy ahead of Fed meet; Tata Motors rallies 4%

The BSE Sensex was trading 9.71 points,
or 0.03 per cent, higher at 32,443.47 

NEW DELHI: Benchmark indices on Tuesday opened on record high level, only to turn choppy ahead of the US Federal Reserve two-day policy review meet 

At 9.36 am, the BSE Sensex was trading 9.71 points, or 0.03 per cent, higher at 32,443.47, The Nifty50 hit a fresh record high of 10,178.95, before turning flat. The index was ruling at 10,153. The midcap and smallcap indices edged up to 0.2 per cent higher. 

"All eyes are on two-day Federal Reserve monetary policy meeting that will begin on Tuesday. Continued inflow in domestic funds, benign interest rate environment, stable currency coupled with favorable global cues is driving markets higher,” said Sanjeev Zarbade of Kotak Securities. 

Tata Group of companies including Tata Motors BSE 4.33 %, Tata Global Beverages BSE 1.50 % and Tata Chemicals BSE 0.54 % hogged limelight in Tuesday’s trade on account of multiple block deals in early deals. 

Around 1.12 per cent of equity of Tata Motors exchanged hands in a block deal. Shares of the auto major surged as much as 4.53 per cent in the early trade. The scrip was trading 4.11 per cent up at Rs 422 around 9.30 am (IST). 

Besides, 6.8 per cent and 4.1 per cent of equity in Tata Global Beverages and Tata Chemicals, respectively, also exchanged hands in block deals. Shares of Tata Global Beverages were trading 1.83 per cent up at Rs 217.25 in the early trade, while Tata Chemicals was up 0.54 per cent at Rs 646. 

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