* NSE index up 0.06 pct, BSE index 0.2 pct higher
* Fed expected to raise rates, offer policy hints
* Tata Motors surges after unnamed buyer picks stake
By Aby Jose Koilparambil
Dec 13 Indian shares were little changed on
Tuesday in quiet trading ahead of the U.S. Federal Reserve's
two-day policy meeting that starts later in the day, while Tata
Motors Ltd jumped after an unnamed buyer bought a
stake at a premium.
The Fed is widely expected to raise interest rates by a
quarter percentage point, its first for this year, when it
announces its decision on Wednesday.
Investors will closely look at the Fed's statement on future
action given fears that aggressive rate hikes could spark
outflows from emerging markets to the United States.
Such an outcome could hit Indian shares further given that
markets are already under pressure over worries that
demonetisation would hurt the economy bigger than expected.
"The Fed is slated to hike the rates. On the domestic front,
the impact of demonetisation continues and a lot of companies
are reporting a slowdown," said Alok Ranjan, head-PMS at
Way2Wealth Brokers Pvt Ltd.
The broader NSE index was up 0.06 percent at
8,176.00 by 0524 GMT, while the benchmark BSE index was
0.2 percent higher at 26,568.32.
Shares of Tata Motors surged as much as 7 percent, making
them the top gainer on the NSE index, after an undisclosed buyer
bought about 50 million shares in two block deals at an up to 10
percent premium to Monday's close. They were last up 2.15
Energy stocks rose with oil retailer Bharat Petroleum Corp
leading the gains. Bharat Petroleum gained as much as
2.30 percent, after Monday's 3.6 percent fall due to a jump in
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by