The sharemarket is holding on to its gains ahead of October F&O expiry tomorrow. The Nifty is up 33.30 points at 8060.90. The Sensex is up 128.53 points at 27009.35. About 1381 shares have advanced, 869 shares declined, and 91 shares are unchanged.

Tata Motors, M&M, Tata Steel, Hindalco and ITC are top gainers in the Sensex. NTPC, GAIL, BHEL, Sesa Sterlite and Sun Pharma are among the laggards. Gold steadied near USD 1,230 an ounce, clinging to modest gains from the previous session, ahead of the next guidance from the Federal Reserve on whether it will hike US interest rates sooner or keep them lower for longer.

The Fed wraps up its two-day policy meeting later on Wednesday at which it is expected to end its bond purchases amid signs of strength in the US economy. But policymakers will likely reinforce its stated willingness to wait longer before raising interest rates after a volatile month in financial markets.

Global markets are firm as the Dow tops 17000 , extending its gains to the fourth straight day. Strong consumer confidence data that hit 7-year high and good earnings from Facebook boosts US markets.

Commercial vehicle maker Tata Motors climbed nearly 3 percent after a 4 percent rally in its ADR on the NYSE. Mahindra and Mahindra jumped over 1.5 percent.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-races-towards-8100-aheadexpiry-bhel-falls 1_1213786.html