Markets to be down tomorrow on Fed decision: Ashwani Gujral

In the afternoon trade, the Sensex was down 80.79 points at 26617.03 and the Nifty fell 25.95 points to 8195.85. The market opened flat as investors are cautiously awaiting Federal Reserve decision on interest rates.There are two possibilities, one is that there will be no rate hike and due to that US market will crash and emerging markets will celebrate. The second possibility is that there will be 25 basis point rate hike due to which there will be sell-off in the Indian market, said Mehraboon Irani of of Nirmal Bang Securities.Ashwani Gujral of ashwanigujral.com is of the opinion that tomorrow the markets will come down and banks will lead them to come down. Coal India (CIL) was the biggest loser among Sensex 30 stocks and Tata Motors lost 25 percent of its value since the Tata-Mistry saga. Irani says that investors may not exit but buying can be according to their perception. SP Tulsian of sptulsian.com bets on non-indexed stocks and says sugar sector seems attractive.One sector that is least impacted by the demonetisation scheme is sugar. Many of the sugar mills have seen good recovery. And, many of the sugar companies in Uttar Pradesh will record higher profits, said Tulsian. Ashwani Gujral made a buy call on IGL, Geometric and a sell call on Bharat Electronics (BEL).Mitesh Thacker of miteshthacker.com made a sell position on Coal India and Biocon. Watch video for more...