The benchmark indices turned flat after Nifty50 inched up to its fresh high in early trade on Tuesday as investors remained cautious ahead of the US Federal Reserve's two-day policy meeting beginning later today.
The Nifty50 was hovering around its crucial support of 10,150 after it gained as much as 26 points to touch its new high of 10179 level in the early trade.
The Fed is expected to hold interest rates steady in its policy meeting, but investors will be looking for clues on the expected pace of further tightening later this year and next. The market is pricing in an approximately even chance of a hike in December.
The Fed, however, may take a step toward policy normalisation and announce plans to begin unwinding it is $4.2 trillion portfolios of Treasuries and mortgage-backed securities.
Overseas, Asian shares wavered, bolstered by record highs on Wall Street but hobbled by uncertainty as traders waited for a Fed meeting for clues on US monetary policy.
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