Indian equity benchmarks set for muted open ahead of Fed policy decision

While the Fed is expected to keep rates unchanged later in the day as it sifts through mixed economic data, comments from Chair Jerome Powell will be closely watched for economic and inflation outlook. Higher U.S. interest rates make emerging market equities like India less attractive for foreign investors, who have been on a selling spree in India this month. Foreign investors sold shares worth 46.37 billion rupees ($532.49 million) on Tuesday, as per provisional data.