Sensex and Nifty opened higher after the Federal Reserve raised rates by 25 basis points. Gains stayed limited as IT weakness, FII selling and high crude prices kept pressure on sentiment.

Mumbai: Indian equity markets closed higher on Wednesday, in line with gains across regional markets, amid expectations around the US Federal Reserve's

Indian markets are set for a muted opening after the US Federal Reserve raised rates by 25 basis points and signalled another possible hike this year. Crude oil prices, foreign outflows and the NSE IPO are expected to keep sentiment cautious through the session.