Sensex trades higher as US Fed Chair hints likely rate cut in September
Updated: Aug 26th, 2024
Source: IANS |
Indian equity indices opened in the green today following US market gains after Federal Reserve Chair Jerome Powell’s dovish commentary at the Jackson Hole hinted at a likely rate cut in September.
At 9.45 am, Sensex was up 529 points or 0.65% at 81,615 and Nifty was up 146 points or 0.59% at 24,969.
Broader market trends remain bullish. Nifty Midcap is up 348 points or 0.60% at 58,904 and Nifty smallcap is up 105 points or 0.55% at 19,184.
Among the sectoral indices, Auto, IT, PSU Bank, fin service, pharma, metal and energy are the major gainers and FMCG is the only loser in the NSE indices.
In the Sensex, Wipro, Tech Mahindra, TCS, HDFC Bank, Infosys, Power Grid, Axis Bank, HCL Tech, Tata Motors and Tata Steel are the top gainers. ITC, Sun Pharma, Maruti Suzuki, JSW Steel and UltraTech Cement are the top losers.
There is mixed trading in Asian markets. There is a rise in Bangkok, Hong Kong and Jakarta. Tokyo, Shanghai and Seoul are in the red. The US markets closed with gains on Aug 23.
The foreign institutional investors (FIIs) extended their buying as they bought equities worth ₹1,944 crore on Aug 23, while domestic institutional investors also bought equities worth ₹2,896 crore on the same day.
(This story was taken from a syndicated feed, and edited only for style by Gujarat Samachar Digital staff)
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