Share Market Updates: Sensex and Nifty have remained subdued with heavyweights like HDFC and RIL dragging the market and as investors choose to wait for the Fed policy decision scheduled to be announced later today.

Nifty goes below 20,000 mark and Sensex is down more than a per cent. Finance, FMCG and Pvt Bank drag the market with all sectors trading lower. HDFC Bank drops almost 4% and JSW Steel and RIL dragged more than 2%.

The Fed began its latest meeting on interest rates Tuesday, with an announcement scheduled for Wednesday. The overwhelming expectation is for the Fed to announce no change to rates. More focus will be on updated projections Fed officials give for where they see rates heading in upcoming years.

India’s benchmark indexes fell more than a per cent on Wednesday, led by drags in the two of the biggest heavyweights, HDFC Bank and RIL. HDFC Bank shed after the country’s largest private lender flagged a hit to its asset quality post its merger with HDFC Ltd, while RIL dragged amidst news of a block deal.

Globally, markets expect the U.S Federal Reserve to opt for a pause at the conclusion of its two-day meeting later in the global day, albeit with a hawkish stance.

The Nifty 50 fell 212 points to end at 19,921, while the S&P BSE Sensex dropped as much as 800 pts and closed at 66,800. All sectoral indices ended in the red in today’s session.