Key benchmark indices edged higher in early trade on higher global stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 135.62 points or 0.53% at 25,629.99. The rise in the 50 unit Nifty 50 index was higher in percentage terms compared with the gains for the Sensex. The Nifty was currently up 46.75 points or 0.6% at 7,797.65. The broad market depicted strength. There were over five gainers against every loser on BSE. 666 shares rose and 113 shares rose. A total of 28 shares were unchanged. The BSE Mid-Cap index and the BSE Small-Cap index were currently up by 0.6% each, outperforming the Sensex.
In overseas stock markets, Asian stocks edged higher after the US Federal Reserve emphasized a gradual path for future interest rate hikes after raising the benchmark rate by 25 basis points to 0.25%-to-0.50% at the conclusion of its two-day monetary policy meeting yesterday, 16 December 2015. US stocks rallied yesterday, 16 December 2015, in the aftermath of the Fed's widely expected decision to raise the benchmark interest rate by 25 basis points. The Fed policy makers voted unanimously to raise the target range of its fed-funds rate, which had been stuck at zero for seven years.
State Bank of India (SBI) was up 1.78% after the bank announced after market hours yesterday, 16 December 2015, that a meeting of its Committee of Directors is scheduled on 21 December 2015 for seeking umbrella approval of the shareholders of the bank for a period of one year for raising equity capital in the domestic or overseas markets and also for mopping up additional non-equity capital by way of bonds denominated either in dollars or rupees.
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