"If they come with a rate hike, a lot of investors will scramble," McCain added. Market experts in Mumbai said while investors had largely discounted the likelihood of the US central bank hiking rates, stocks might see a sharp correction if the Fed hiked rates. On Friday, the benchmark Sensex ended over 186 points higher as concerns over an interest rate hike eased. "The markets will be keenly watching the meeting of the Federal Reserve and other developments, particularly with regard to the progress of the monsoon. If the Fed, as expected, holds off, the focus will shift to its December meeting.

Source: The Telegraph September 17, 2016 18:24 UTC