New Delhi, Sept. 15 -- Stocks to buy for the short term: Frontline indices, the Sensex and the Nifty 50, erased gains seen in early deals on Tuesday due to profit booking amid rising oil prices and anticipation of a rate hike by the US Federal Reserve on Wednesday.

The Sensex declined nearly 200 points, while the Nifty touched an intraday low of 23,317 in the morning session on Tuesday.

Experts expect the market to remain volatile with a negative bias ahead of the US Federal Reserve's policy decision.

The ongoing conflict between the US and Iran has fuelled concerns over inflation and the consequent rate hikes, elevating the US dollar and bond yields. The confluence of headwinds is keeping the market down.

Vishnu Kant Upadhyay of Mast...