Stock markets trade marginally higher after US Fed rate hike; NSE IPO in focus

Indian equities traded cautiously higher after the US Federal Reserve raised rates by 25 basis points to 3.75-4%. Brent crude eased slightly while the NSE’s Rs 22,569-crore IPO opened for subscription. FIIs sold equities worth Rs 2,032 crore on Wednesday as global cues remained mixed.

Foreign fund outflows and muted trend in Asian markets also capped the gains in the domestic equities during initial trading.