Indian share prices closed 0.32 percent higher on Thursday in cautious trade ahead of a key US Federal Reserve meeting where interest rates are expected to be hiked, dealers said. They said the market gave up early gains and turned cautious with the expiry of the June futures contract Thursday and before the US Federal Reserve decision.
The Fed is widely expected to hike its federal funds rate Thursday by another quarter-point to 5.25 percent and talk tough on the need to keep inflation under control.
Mumbai's benchmark 30-share Sensex index closed up 32.46 points at 10,162.16. "Global issues aside, the markets are also concerned with the direction of the futures contract and will continue to be rangebound," said Naresh Garg, chief investment officer with the private Sahara Mutual Fund.
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