The Indian market started the holiday-truncated week on a negative note on May 2 amid weak global cues. However, market has been very resilient and some last-hour buying helped the benchmarks recover losses to end flat.
The Bank Nifty was in the green in face of all the negative cues. On Wednesday morning, trends on SGX Nifty indicated a flat start for the broader index in India.
The Nifty has been in a 16,800 to 17,300 band where the markets made aggressive moves and it has defended both sides of the range.
Today is, perhaps, one of the most important days in the financial calendar for global markets as investors await what is expected to be the biggest Federal Reserve interest rate hike in more than two decades.
Global markets after the recent sell-off are heading to the event with some cautious optimism.
Watch the accompanying video of CNBC-TV18’s Anuj Singhal for more details.