Benchmarks fall after 2-day gain; US Federal Reserve rate decision eyed

Equity indices snapped their two-day rising streak on Wednesday amid mixed global market trends ahead of the keenly awaited US Fed interest rate decision.
The 30-share BSE Sensex fell 262.96 points or 0.44 per cent to settle at 59,456.78. During the day, it tanked 444.34 points or 0.74 per cent to 59,275.40.
The NSE Nifty went lower by 97.90 points or 0.55 per cent to end at 17,718.35.
IndusInd Bank was the biggest laggard in the Sensex pack, tumbling 3.19 per cent, followed by PowerGrid, UltraTech Cement, L&T, NTPC, HCL Technologies, Dr Reddy’s, TCS and Bharti Airtel.
In contrast, Hindustan Unilever, ITC, Bajaj Finance, Tech Mahindra, Reliance Industries, Mahindra & Mahindra, Nestle India and HDFC Bank were the gainers, climbing as much as 1.60 per cent.
“Markets across the globe were trading with considerable volatility ahead of the Fed policy announcement. A 75 bps hike by Fed was factored in by the markets, while reports of mobilising Russian forces in Ukraine has …