Sensex opens flat, Nifty holds above 9,600 ahead of Fed outcome

The benchmark indices opened flat on Wednesday taking lead from mixed trend in Asian markets after Wall Street notched another all-time high ahead of US Federal Reserve's policy outcome. At 9:17 am, the S&P BSE Sensex was trading at 31,131, up 27 points, while the broader Nifty50 was ruling at 9,607, up 0.8 points. In the broader market, the S&P BSE Midcap was little changed, while the S&P BSE Smallcap (0.2%) gained marginally. "We reiterate advising booking profits once the Nifty approaches the resistance zone of 9,700-9,720 levels. For the coming session, 9,580 would be seen as immediate strong support level for the index," said Angel Broking in a technical note.  Commodity Trading Tips

RBI identifies 12 mega defaulters

The Reserve Bank of India (RBI) on Tuesday said its internal advisory committee (IAC) had identified 12 accounts that covered about 25% of the banking system’s non-performing assets for immediate resolution under the Insolvency and Bankruptcy Code. The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore, which means the 12 accounts would be responsible for about Rs 1.78 lakh crore. The central bank did not give the names of the borrowers. Nifty Trading Tips