All eyes on Fed: Nifty closes below 18,100 level as Auto, PSU Bank and Realty plunge

Hindalco, Sun Pharma and ITC emerged as the top gainers from the Nifty 50 stocks while Bharti Airtel, Apollo Hospitals and Maruti Suzuki were the top losers.

Market update at 3.30 PM: A volatile Wednesday came to an end with slight losses as Nifty slipped 0.34 per cent to close below the 18,100-mark. Sensex lost 215 points while Nifty Midcap and Nifty Smallcap also ended marginally lower.   

Apart from media, pharma and metal, all other sectors witnessed slight profit booking. Hindalco, Sun Pharma and ITC emerged as the top gainers from the Nifty 50 stocks while Bharti Airtel, Apollo Hospitals and Maruti Suzuki were the top losers.   

Amidst this, India VIX jumped over 3 per cent to close at 16.66.   

All eyes would be on the Fed FOMC decision regarding rate hike scheduled to be released later at night. Meanwhile, corporate earning shall continue to drive stock specific action.    

Market update at 11.10 AM: Indices have been trading lower amid volatility. Nifty hovers around 18,100 level and has slipped 0.20 per cent while Sensex has lost 150 points. Meanwhile, Nifty Midcap and Nifty Smallcap are marginally higher.   

Pharma and media are the top performing sectors while auto and PSU Banks have seen profit booking.   

Sun Pharma, Dr Reddy's Labs and Divis Labs are among the top gainers from the Nifty 50 stocks while Bharti Airtel, Eicher Motors and Maruti Suzuki are weak today.   

Stocks that have hit a fresh 52-week high include Bharat Forge, Coal India, ITC, Sun Pharma and Trent.  

Stock specific action continued on D-street, with stocks like Sharda Cropchem, Mazagon Dock, Cholamandalam Finance catching investors’ attention

Market update at 9.30 AM: NSE Nifty 50, BSE Sensex, Nifty Midcap and Nifty Smallcap, all are trading mixed, at the start of the session.   

Metals are trading higher while Auto and IT are weak today. Meanwhile, India VIX has jumped over 1 per cent.   

Pre-market update: The US indices ended with minor losses after a survey showed that job openings remained unexpectedly strong in September, which in turn suggests that the labour market of the US is resilient despite aggressive rate hikes of Fed. Meanwhile, investors await for the US Fed FOMC decision. Nasdaq has slipped 0.89 per cent while Dow Jones lost 80 points. With this, the Asian markets have opened on a mixed note, with SGX Nifty posting a loss of 25 points on the board.

India's manufacturing PMI surges to 55.3 in October, suggesting stronger factory activity.

Oil surges amid decrease in US stock pile. Brent crude currently is trading above 95 level.

In the last trading session, the FIIs have bought shares worth of Rs 2609 crore while the DIIs sold to the tune of Rs 730 crore.

Nifty is expected to open flat and intra-day volatility is likely to persist