FIRST TRADE: Equity indices start crucial week higher; Nifty near 25,400 levels

Indian equities opened the crucial week on a positiive note tracking posiitve global cues. At the start, Nifty was up 38.5 points at 25,395, while the Sensex added 102.02 points at 82,992.96 levels. 

Sectorally, there was broad-based buying sentiment seen on the D-Street today, with FMCG index being the only laggard.

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "Globally equity markets will be focused on the Fed rate action on Wednesday which is likely to influence the stock market trend in the near-term. The first rate cut by the Fed in four years is a foregone conclusion, the only uncertainty is about the extent of the rate cut, that is, whether the cut will be 25 bp or 50 bp. The market will also be keenly watching the Fed commentary on the evolving economic outlook.
 
Nifty which has rallied 16.7% YTD is one of the best performing stock indices in the world, added Vijaykumar. 

FIIs were net buyers in the Indian markets last week and net bought equities worth Rs 16,600.88 crore in September so far. 

Asian markets

Asian markets traded rangebound ahead of the Fed decision later this week. Markets in Japan, China, Indonesia and South Korea observed an holiday. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) traded flat with a negative bias.