Markets trade flat on Fed rate hike, Trump probe; Nifty below 9,600

Wipro, Reliance Industries, ONGC and Bharti Airtel gained the most on BSE Sensex

Benchmark indices were trading flat in the noon deals tracking muted cues in global markets after US Federal Reserve raised policy rate for the second time this year and unveiled plans to shrink its balance sheet. Fed Chair Janet Yellen said the process could start "relatively soon", while projections of Federal Reserve Board members also showed they expect one more rate hike by the end of year. It also maintained forecast for one more hike in 2017.
 
Meanwhile, Sentiment also remained cautious after media reports that US President Donald Trump is being investigated by a special counsel for possible