The #BSE index turned negative after rising as much as 0.65 per cent as #investors booked profits even as #Asian markets rallied after the #US Federal Reserve hiked interest rates, as expected, on Wednesday.
The benchmark BSE index fell 34.08 points or 0.13 per cent to 25,460.29 and the NSE index Nifty fell 9.85 points or 0.13 per cent to 7,741.05.
Among BSE sectoral indices, metal index was up 0.87 per cent, followed by healthcare 0.54 per cent, realty 0.49 per cent and capital goods 0.25 per cent. On the other hand, auto index was down 0.41 per cent, followed by oil & gas 0.22 per cent, FMCG 0.21 per cent and TECk 0.07 per cent.
Top five Sensex gainers were Tata Steel (+2.76%), Bajaj Auto (+1.26%), Hindalco (+1.15%), State Bank of India (+1.14%) and Sun Pharma (+1.1%), while the major losers were ONGC (-2.18%), M&M (-1.45%), Axis Bank (-0.88%), BHEL (-0.86%) and ITC (-0.75%).
Equity markets across the globe, particularly those in emerging economies, have responded positively to the interest rate hike announced by the US Federal Reserve late last night. The largest economy's central bank raised interest rates by 25 basis points, after keeping them at near zero levels for nearly a decade, in the aftermath of the global financial meltdown.
The market performance has not surprised most analysts, who believed a 25 bps rate hike and a resulting exit of foreign investors had already been factored in.
A report by Bank of America - Merrill Lynch forecast a gradual 100 bps rate hike by the Fed through 2016 if unemployment rates in the US continue to remain below the Fed's expectations.
Asian stock markets jumped on Thursday as investors chose to take an historic hike in US interest rates as a mark of confidence in the world's largest economy, lifting the dollar and piling on the pain for oil prices.
US stocks rallied on Wednesday after the Federal Reserve announced it is raising its key policy rate for the first time in nearly a decade in a sign of confidence in the US economy.
No comments:
Post a Comment