Indian blue-chip indexes open lower; Fed meeting in focus
Updates levels at 9:20 a.m. IST
Dec 17 (Reuters) -Indian benchmarks slipped on Tuesday, weighed down by heavyweight financials and Reliance Industries, amid caution ahead of the U.S. Federal Reserve's Dec. 18 meeting that is being closely watched for cues about its future rate cut path.
The NSE Nifty 50 .NSEI shed 0.3% to 24,599 points as of 09:20 a.m. IST, while the BSE Sensex .BSESN fell 0.3% to 81,492.02.
Ten of the 13 major sectors traded lower.
Heavily-weighted HDFC Bank HDBK.NS dropped 0.4% after getting a warning letter from India's market regulator SEBI, alleging that its disclosures regarding the resignation of a senior employee were non-compliant with certain provisions.
Reliance Industries RELI.NS slipped about 1% to drag the energy index .NIFTYENR 0.5% lower.
The broader, domestically focused small- .NIFSMCP100 and midcaps .NIFMDCP100 were trading marginally higher.
The Fed is widely expected to cut interest rates by a quarter of a percentage point in its last policy meeting of the year on Wednesday.
The meeting will shed light on how much further officials think they will cut rates in 2025 and 2026, and whether the central bank will scale back easing in anticipation of higher inflation under the incoming Donald Trump administration.
Reporting by Hritam Mukherjee and Kashish Tandon in Bengaluru; Editing by Sumana Nandy
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