SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 125 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Thursday tracking U.S. stocks after the Federal Reserve raised benchmark interest rates 75 basis points in a move that equates to the most aggressive hike since 1994.
US stocks rallied on Wednesday after a policy announcement by the Federal Reserve that raised interest rates to market expectations as the central bank seeks to fight rising inflation without sparking a recession.
The Federal Reserve raised its benchmark interest rates three-quarters of a percentage point in its most aggressive hike since 1994. The Fed said in a statement it was committed to bringing down inflation to 2%. It also said it would continue to reduce holdings of Treasury securities and agency debt and agency mortgage-backed securities. Officials also significantly cut their outlook for 2022 economic growth, now anticipating just a 1.7% gain in GDP, down from 2.8% from March.
Fed Chairman Jerome Powell also said during his afternoon press conference that, either a 50 basis point or a 75 basis point increase seems most likely at our next meeting.
More From This Section
Domestic markets:
Back home, the key equity barometers ended with small losses after a volatile session on Wednesday, extending its losing streak to fourth session. The barometer index, the S&P BSE Sensex, declined 152.18 points or 0.29% to 52,541.39. The Nifty 50 index lost 39.95 points or 0.25% to 15,692.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,531.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,588.00 crore in the Indian equity market on 15 June, provisional data showed.
Powered by Capital Market - Live News