Live
- A Guide to Temperature and Humidity Standards in Data Center Server Rooms
- Gadwal collector briefs on details of voters
- Jupally Krishna Rao takes part in Alampur rallu
- Bharath Prasad files 3rd Nomination
- Baisakh Month: A Time of Auspicious Beginnings and Sacred Festivals
- Oust BJD govt for overall development, says Shah
- Unveiling the Hidden Gems: Surprising Health Benefits of Garlic Peels
- Overcoming Sleep Struggles: A Comprehensive Guide to a Restful Night
- RTC bus hit the auto
- MLA Kuchukula Rajesh Reddy participated in the Birappa festival
Just In
Markets turn choppy after initial euphoria; Sensex, Nifty end flat
Equity markets gave up early gains during the fag-end of trade on Thursday to settle on a flat note amid profit-taking.
Equity markets gave up early gains during the fag-end of trade on Thursday to settle on a flat note amid profit-taking.
The 30-share BSE benchmark Sensex had jumped 897.77 points or 1.61 percent to 56,566.80 during the day. But it pared most of the gains and closed just 33.20 points or 0.06 percent higher at 55,702.23.
Similarly, the NSE Nifty inched up 5.05 points or 0.03 percent to 16,682.65.
From the Sensex pack, Tech Mahindra, Infosys, HCL Technologies, Tata Steel, Wipro, ITC, HDFC, TCS, Kotak Mahindra Bank, and ICICI Bank were among the major gainers.
In contrast, IndusInd Bank, Sun Pharma, Nestle, UltraTech Cement, Reliance Industries, PowerGrid, Bajaj Finserv, and Titan were among the laggards.
Elsewhere in Asia, Hong Kong settled lower, while Shanghai was marginally higher. Markets in Japan and Korea were closed for holidays.
Exchanges in Europe were trading with gains in the afternoon session.
Stock exchanges in the US surged higher in the overnight trade on Wednesday.
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point on Wednesday.
''US equities rallied, recording the biggest one-day gain since 2020 after Federal Reserve comments suggested that the central bank is unlikely to consider a higher interest-rate hike of 75 basis points in the coming months.
''Moreover, rate hike and balance sheet unwinding quantum were on expected line without any negative surprise, which was already factored in market correction over past few days. It was like a relief rally to some extent,'' said Mitul Shah, Head of Research at Reliance Securities.
Domestic equity markets had plunged on Wednesday after the RBI in a surprise move hiked the benchmark lending rate to 4.40 percent to contain inflation.
The BSE benchmark had tumbled 1,306.96 points or 2.29 percent to 55,669.03 while the Nifty tanked 391.50 points or 2.29 percent to 16,677.60.
Meanwhile, international oil benchmark Brent crude gained 0.27 percent to USD 110.4 per barrel.
Foreign institutional investors offloaded shares worth Rs 3,288.18 crore on Wednesday, according to stock exchange data.
''US markets closed higher yesterday (Wednesday) after the Fed announced an interest rate hike of 50 bps. Jerome Powell said a 75 bps hike is not something that the committee is actively considering. This statement led to a market rally,'' said Mohit Nigam, Head - PMS, Hem Securities.
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com