Metal, IT stocks lead India's equity benchmarks higher ahead of Fed decision

India's Nifty 50 .NSEI and Sensex .BSESN up 0.4% and 0.3%, respectively

Rise ahead of an expected U.S. Federal Reserve rate cut later in the day

Fourteen of the 16 major sectors advance; broader mid-caps .NIFSMCP100 up 0.3%, while small-caps .NIFSMCP100 flat

Metal stocks .NIFTYMET jump 2% to record highs on U.S.-China trade optimism, China stimulus hopes, and Fed rate cut expectations

IT companies .NIFTYIT, which get a substantial chunk of revenue from the U.S., rise 0.6%

Energy stocks .NIFTYENR rise 1.9%, led by Reliance Industries RELI.NS, and oil marketing companies on drop in crude oil prices

Nifty Capital Markets index .NIFTYCAPITALMKT down 2% as asset managers and brokerages shares drop on regulatory proposal to reduce exit load on investors

Cohance Lifesciences COHA.NS slumps 8.5% as its managing director resigns