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Ahead of Fed Policy meet, Sensex, Nifty close higher

Benchamrk indices on Wednesday closed higher second day in a row ahead of Federal Reserve policy meeting.

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Benchamrk indices on Wednesday closed higher second day in a row ahead of Federal Reserve policy meeting. BSE Sensex closed higher by 139.42 points, or 0.42%, to 33,136.18, while the Nifty 50 rose 30.90 points, or 0.31%, to close at 10,155.25. 

Bharti Airtel, NTPC, L&T and IndusInd Bank were among the top gainers, while Tata Steel, Tata Motors, Adani Ports and Hero MotoCorp were major losers.

Asian shares were trading higher after recent losses amidst caution ahead of Federal decision on policy rates.

US stocks ended higher yesterday, led by strong gains in the energy sector as the overall market reclaimed some lost ground from the previous day. 

Emerging market stocks and currencies softened on Wednesday and borrowing costs pushed higher as investors geared up for the first U.S. rate hike of the year, while optimism over the future of the NAFTA trade pact lifted Mexico's peso higher.


MSCI's emerging markets benchmark slipped 0.2 percent with many Asian bourses chalking up losses that could not be offset by gains in Russia , Turkey and South Africa.

Uncertainty over the outlook for U.S. interest rates and heightened signs of possible tit-for-tat trade measures have frayed investors' nerves in recent weeks.

China vowed it would take steps to safeguard its interests and those of its industries, accusing Washington of acts of trade protectionism. U.S. President Donald Trump is expected to unveil tariffs of up to $60 billion on Chinese technology and telecoms products by Friday.

Meanwhile, The US decision to launch trade investigations is a unilateral act of protectionism, the Chinese commerce ministry said in a statement on Wednesday, citing a speech by Wang in New Delhi. 

President Donald Trump is expected to unveil up to $60 billion in new tariffs on Chinese imports by Friday, targeting technology, telecommunications and intellectual property, two officials briefed on the matter said Monday.

The tariffs will be imposed under Section 301 of the 1974 U.S. Trade Act, following an intellectual property probe that began in August last year. 

"Taking trade restrictive measures will not only impede normal international trade order but also cause serious damage to the multilateral trade system," Wang said at a two-day World Trade Organization ministerial meeting that ended on Tuesday. 

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