Mumbai: The market has opened lower as the Sensex is down 99.25 points or 0.4 percent at 27262.71. The Nifty slips 28.20 points or 0.3 per cent at 8232.35. About 238 shares have advanced, 280 shares declined, and 29 shares are unchanged.
Maruti, Bharti, Coal India, HUL and Wipro are top gainers while Lupin, Vedanta, HDFC, Cipla and ONGC are laggards. The Indian rupee has opened flat at 64.97 per dollar against previous day's closing value of 64.96 a dollar.
Ashutosh Raina of HDFC Bank said, "The 2-day FOMC meeting kicks off today, with expectations of no rate action, however the statements from Fed will be keenly awaited. Market will also watch out for the Bank of Japan meeting later this week after the recent actions from the ECB and PBoC."
Dollar fell against a basket of major currencies on lower US bond yields and a drop in US new home sales in September that revived concerns about the economy.
Asian stocks posted a cautious open, tracking an uninspiring lead from Wall Street amid weakened commodity prices. Major US averages finished mixed overnight, as energy shares fell in tandem with oil prices and Apple declined a day before its quarterly results.
The blue-chip Dow Jones Industrial Average and S&P 500 edged down 0.1 and 0.2 per cent respectively, while the Nasdaq Composite finished a tad above the flatine.
Traders were also awaiting the release of Chinese industrial profits for September. August's report showed a near 9 percent annual fall, the biggest drop since the National Bureau of Statistics began monitoring the data in 2011.
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