Mumbai: Indian equity markets opened sharply higher on Wednesday, with the benchmark indices gaining nearly 1 per cent each as investors awaited the US Federal Reserve's policy decision. Meanwhile, Nifty MidSmall IT & Telecom gained 1 per cent, followed by Nifty Chemicals (0.99 per cent) and Nifty FMCG (0.81 per cent). On the downside, Nifty Realty fell 0.39 per cent, while Nifty Oil & Gas slipped 0.15 per cent. Asian markets traded mixed, with Japan's Nikkei down 2 per cent, Hong Kong's Hang Seng up over 1 per cent and South Korea's KOSPI falling nearly 9 per cent. Wall Street ended mixed overnight, with S&P 500 gaining 0.21 per cent while the Nasdaq slipped 0.22 per cent.