BENGALURU, Sept 21 (Reuters) – Indian shares are expected to open slightly lower on Wednesday, after two straight sessions of gains, as investors brace for a hefty rate hike from the U.S. Federal Reserve and clues on further hikes.

India’s NSE stock futures listed on the Singapore exchange were down 0.4%, as of 0229 GMT, while MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1%.

The NSE Nifty 50 index (.NSEI) rose 1.1% to 17,816.25 on Tuesday, while the S&P BSE Sensex (.BSESN) ended up 0.98% at 59,719.74.

Foreign investors bought a net $91.9 million worth of Indian equities on Tuesday, Refinitiv data showed.

The Fed is set to announce its decision at the end of a two-day policy meeting later in the day. Rate futures traders are pricing in an 81% chance of a 75-basis-point hike and a 19% probability of a jumbo 100 bps increase. FEDWATCH

Stocks to watch:

** The Reserve Bank of India on Tuesday said it took Central Bank of India (CBI.NS), a state-owned commercial bank, off its prompt corrective action list after it was found that the bank was not in breach of certain regulations.

** Yes Bank (YESB.NS) on Tuesday said it approved investment of up to 19.99% stake in JC Flowers Arc by bank

** Indian automaker Mahindra and Mahindra (MAHM.NS) proposes to buy a 17.41% stake of Swaraj Engines (SWAR.NS) from Kirloskar Industries (KIRL.NS).

** NBCC (India) (NBCC.NS) on Tuesday said it secured total business of 2.75 billion rupees in August.

** Bike maker Hero MotoCorp (HROM.NS) said on Tuesday it would partner with state-run Hindustan Petroleum Corp (HPCL.NS) to set up electric vehicle (EV) charging infrastructure across the country.

** Indian budget carrier SpiceJet (SPJT.NS) has decided to put around 80 pilots on leave without pay for a period of three months in a move to cut costs, Mint newspaper reported.

SOURCE :- reuters