Sensex trading 116 points higher at 33,344, Nifty at 10,278; ONGC, Kotak Bank, TCS top gainers

The Sensex and Nifty reversed course in afternoon trade ahead of the Federal Reserve meeting decision on policy rates later in the day. The Bharti Airtel stock is among the top gainers on the Sensex after the company decided to sell 20 percent stake in its DTH arm to US private equity firm.  The Sensex gained 135 points to 33,363,  while the Nifty rose 46 points to 10,287. Here are the key highlights, which will affect the market today.

11:55 am: Kotak Mahindra Bank (1.64%), TCS (1.07%) and (HDFC Bank 1.05%) were the top gainers on Sensex. 

11:30 am: The recovery in the Indian economy "is more subdued than assumed earlier due to rising crude oil prices, soft private investment growth, and weather-related risks to agriculture," the ADB said.

11:00 am: "The upside in vegetable prices have lasted a bit longer than earlier anticipated. We now expect inflation to remain above 4 percent in FY 2018 and in early FY 2019 as well. This means that the RBI shall stand pat even if growth continues to remain subdued, " said Tushar Arora, Senior Economist, HDFC Bank, New Delhi.

10:45 am: Supreme Court halts government takeover of Unitech Management, shares fall nearly 4 percent.

10:27 am: The rupee was trading at 64.445 to the dollar. On Tuesday, the currency weakened marginally against the US dollar and closed at 64.47 a dollar. So far this year, the rupee has gained 5.52%.

10: 15 am: Videocon Industries (0.90%), Century Textiles (3.57%), and IndiGo (2.67%) are top losers on the BSE.

9:50 am: Bharti Airtel (1.48 percent), ONGC (1.28 percent) and Dr Reddy's top Sensex gainers.

9:45 am: Bharti Airtel (Rs 216 cr), ITC (Rs 164.68 cr), HDFC (Rs 62.27 cr) top three volume gainers on BSE.

9: 30 am: Asian markets are mixed ahead of Federal Reserve outcome later today and oil prices steadied after a selloff from the high made since 2015.  In Europe, markets closed higher taking cues from US markets and ahead of the BoE & ECB meetings scheduled tomorrow. US markets closed higher led by banking stocks ahead of the Federal Reserve meeting outcome and amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system.

9: 15 am: On Tuesday, Sensex was down 227 points to 33,227 and Nifty fell below the key 10,250 mark, closing at 10,240 level.