Sensex down 91 points, Nifty opens near 10,800; Nalco, Vodafone India, Bharti Airtel, Tata Motors major gainers
The US Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more than a decade.
Amid mixed gloabl cues, Indian indices open flat today. The Sensex is down 91.55 points or 0.25% at 36472.33, and the Nifty is also down 33.30 points or 0.31% at 10807.40. Among major gainer on the indices today are: Nalco, Vodafone India, Bharti Airtel, Tata Motors, and HDFC Bank, while losers include are ICICI Bank, NMDC, REC, Yes Bank, Coal India, Tata Steel, Tech Mahindra and Infosys.
Amid positive domestic institutional investors (DIIs), neutral global market, foreign institutional investors (FIIs) and futures and options (F&O) cues, the short-term trend of the domestic Indian share market is going to be negative on Thursday, while sentiment is cautious, according to Zee Business.
As the key benchmark indices on Wednesday, snapped a two-day losing streak and ended the day with decent gains, there were certain stocks which can have an impact on the market today are: Axis Bank, NALCO, Bharti Airtel, RITES, and Telecom Stocks.
Asian shares, however, edged higher on Thursday, tracking some modest Wall Street gains after the US Federal Reserve cut interest rates as expected but offered mixed signals on the next easing, keeping investors cautious, said a Reuters report. The Treasury yield curve flattened as Fed Chairman Jerome Powell dashed hopes he would signal further easing while division among central bankers has increased uncertainty over how much further rates might fall.
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.03%. Japan's Nikkei rose 0.46%, while Australian shares rose 0.23%, said the report, adding that the yen traded near a seven-week low versus the dollar before a Bank of Japan meeting later on Thursday where policymakers are expected to keep their ultra-easy policy unchanged.
Notably, the US Federal Reserve on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more than a decade. Three of the 10 members of the committee, however, voted against the quarter-point rate cut decision, highlighting growing split among monetary policymakers.
Meanwhile, the Bank of Japan (BOJ) is widely expected to maintain its pledge to guide short-term interest rates at -0.1% and the 10-year government bond yield around 0%. Investors will closely watch BOJ Governor Haruhiko Kuroda’s post decision press conference to see how he assesses risks to Japan’s economic outlook, Reuters added.
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Earlier on Wednesday, the domestic stock markets closed with gains amid mixed global cues. The Sensex at the Bombay Stock Exchange climbed 82.79 points, or 0.23 per cent, to end at 36,563.88, while the Nifty at the National Stock Exchange also added 23.05 points or 0.21 per cent to settle at 10,840.65, and Bank Nifty gained 40.90 points or 0.15 per cent to close at 27,172.65.
Tata Steel, BPCL, Vedanta, GAIL and SBI were the top gainers, while the biggest losers were Britannia, Indiabulls Housing Finance and Coal India.