The stock markets witnessed intense volatility on the eve of the US Federal Reserve meeting and fluctuated in a 249-point range before ending 54 points up at 19,837.99 on alternate bouts of buying and selling.
The Federal Reserve is expected to lower the interest rate by 25 basis points in Wednesday’s meeting and any negative decision may result in widespread sell-off by investors, market players said.
In a roller-coaster ride between 19,984.13 and 19,735.21, the Bombay Stock Exchange (BSE) 30-share Sensex ended the day at 19,837.99, a net rise of 54.48 points or 0.28 per cent over Tuesday’s close of 19,783.51.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) also ended higher by 31.90 points at 5,900.65 from previous close of 5,868.75.
Reliance Energy soared by another 3.68 per cent as the company’s board approved a proposal to transfer intrastructure projects to a separate wholly owned subsidiary.
