The Swiss stock market ended Tuesday's session with a modest decline. Investors were cautious ahead of the announcement from the U.S. Federal Reserve later today. The Fed is expected to announce its decision regarding interest rates and may also make statements regarding its future monetary policy.
Trading volume was light on Tuesday, due to investor caution ahead of the Fed announcement. The weak performance of the index heavyweights also had a negative impact on the overall market. Economic data released by the U.S. in the afternoon has little impact on the market.
The Swiss Market Index declined by 0.39 percent Tuesday and finished at 7,699.74. The Swiss Leader Index fell by 0.09 percent and the Swiss Performance Index lost 0.28 percent.
Among the index heavyweight, Roche and Novartis finished lower by 1.0 percent and 0.9 percent respectively. Shares of Nestle also dropped by 0.5 percent. Lonza declined by 0.8 percent and Sonova lost 0.7 percent.
Sika was the top gainer on Tuesday, with an increase of 3.2 percent. Adecco also climbed by 1.0 percent and Holcim gained 0.7 percent.
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