Markets pare intraday gains; Nifty ends in red ahead of US Fed meet

The market breadth, indicating the overall health of the market, turned slightly negative

The benchmark indices erased most of intraday gains to end flat tracking fall in index heavyweights such as Tata Motors and TCS even as the Asian and European markets traded higher ahead of the US Federal Reserve's policy meeting which begins later in the day. 

The S&P BSE Sensex settled at 31,103, up 7 points, while the broader Nifty50 ended at 9,606, down 9 points. 

In intraday trade, the Sensex rose as much as 165 points to 31,260, while Nifty50 moved beyond 9,650 after much softer-than-expected inflation data fuelled hopes of an interest rate cut by the Reserve Bank of