Domestic markets saw widespread pessimism prevail across all sectors on Tuesday ahead of key policy decision from the US Fed. Moving forward, analysts said a decisive break below the 24,300 mark could hinder the recovery and potentially drag the index toward 24,000. In this cautious market environment, traders are advised to adopt a hedged strategy and wait for clarity.

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 73.50 points, or 0.30 per cent, at 24,356.50, signaling that Dalal Street was headed for negative start on Wednesday.

US stocks fall

U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid.

Dow down 0.61%,

S&P 500 dips 0.39%,

Nasdaq falls 0.32%

Asian stocks mixed

Asian shares struggled for direction after Wall Street edged lower, with all eyes on the Federal Reserve’s final policy decision of the year.

S&P 500 futures were little changed as of 8:56 a.m. Tokyo time

Hang Seng futures rose 0.6%

Australia’s S&P/ASX 200 rose 0.1%

Nasdaq 100 futures fell 0.2%

Rupee

The rupee depreciated by 11 paise to close at an all-time low level of 84.91 against the US dollar on Monday, dragged down by a negative trend in domestic equities.

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