The Indian equity benchmark indices opened marginally lower on Wednesday following a mixed trend in Asian peers as investors await Federal Reserve’s interest rate decision.

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The US Federal Reserve is expected to strike a dovish stance at its policy review later in the day and perhaps open the door to a higher tolerance for inflation - something dollar bears think could squash real yields and sink the currency even further. A $1 trillion US fiscal rescue package is also at an impasse as a Friday deadline to extend unemployment benefits looms, a Reuters report said.

At 9:15 am, the Sensex opened 65.80 points or 0.17 percent lower at 38,427.15, while the Nifty50 index opened at 11,276.90, down 23.65 points, or 0.21 percent.

Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices traded higher with gains of 0.75 percent each.

All the sectoral indices were trading in the green led by Nifty Auto, Nifty Private Bank, Nifty Pharma and Nifty Metal.

IndusInd Bank, UltraTech Cement, Bharti Infratel, Grasim Industries and Tata Motors were the Nifty50 top gainers, while Adani Ports & SEZ, HCL Technologies, Infosys, Reliance Industries and Kotak Mahindra Bank were the top losers.

IndusInd Bank rose over 4 percent after the bank reported its Q1FY21 earnings. The standalone profit declined to Rs 460.64 crore from Rs 1,432.5 crore while net interest income grew by 16.4 percent to Rs 3,309.2 crore, YoY.

Nestle India fell 1 percent after the company reported its June quarter earnings. The company's net profit in the April-June quarter rose 11.1 percent to Rs 486.6 crore from Rs 437.8 crore while revenue increased 1.48 percent to Rs 3,050.48 crore from Rs 3,000.8 crore, YoY.

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