ICICI Direct, The US dollar index extended losses on Wednesday and fell to a nine month low after Federal Reserve raised interest rate by 25 bps in line with market expectations.
According to Geojit , Mixed moves were seen in NCDEX spices complex on Wednesday. Jeera futures ended down, while turmeric and coriander futures were seen swinging between positive and negative turfs.
Stock Market LIVE Updates: On the sectoral front, FMCG and IT up 1 percent each, while metal, PSU Bank, oil & gas and power down 2-4 percent.
Brent crude futures rose 56 cents, or 0.7%, at $83.40 a barrel while West Texas Intermediate (WTI) U.S. crude futures rose 65 cents, or 0.8%, to $77.05 a barrel.
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ITC, ICICI Bank, JSW Steel, Tata Steel and Tata Consumer Products were among the top gainers on the Nifty, while losers were Adani Enterprises, Adani Ports, HDFC Life, SBI Life Insurance and Bajaj Finserv.
Brent crude futures gained 32 cents, or 0.4%, to $85.78 a barrel at 0407 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 42 cents, or 0.5%, to $79.29 a barrel.
ICICI Direct, The Euro recovered its earlier losses and rose yesterday amid weak dollar and rise in risk appetite in global markets.
Analysts expect that the overall focus will continue on the growth agenda through higher capex allocation that will accelerate the investment cycle and employment.
According to Geojit , Spices complex on NCDEX ended in green on Tuesday. Expectation of rise in demand along with prospects of lower production this rabi season and lower carry over stocks lifted jeera futures.
West Texas Intermediate rose above $79 a barrel after gaining more than 1% on Tuesday. While the US central bank is expected to deliver another interest-rate hike, there are signs officials could consider a pause after Wednesday’s meeting, potentially boosting the allure of risk assets and hurting the dollar.
Metal, auto, PSU Bank, oil & gas and power indices shed 1-5 percent.
With this reduction, the CNG price in Mumbai and neighbouring satellite towns will come down to Rs 87/kg.
On the BSE, auto, capital goods, power, metal and realty added 1-1.8 percent, while selling was seen in the healthcare, information technology and oil & gas names
Forex traders said significant foreign fund outflows and a muted trend in domestic equities also dented investor sentiments.
Dharni Capital Services Ltd becomes the 414th company to get listed on the BSE SME platform, the exchange said in a release.
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Market is already discounted 25 basis point interest rate hikes from the US Fed in this meeting but anything higher than that could adversely impact bullion markets, said Manoj Kumar Jain, Prithvi Finmart Commodity Research.
ICICI Direct, The Euro erased its earlier gains and fell towards the level of 1.0839 yesterday amid a strong dollar and weaker than expected macroeconomic data from the Euro area.
According to Geojit , Except for jeera, other spices were down on NCDEX on Monday. Jeera futures bounced up after the recent correction on expectation of lower production and low carry over stocks.
Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 9 cents to $77.99.
Except IT, pharma and oil & gas, all other sectoral indices ended in the green.
Adani Enterprises, Bajaj Finance, UltraTech Cement, Bajaj Finserv and HCL Technologies gained the most of the Nifty. Power Grid Corporation, JSW Steel, Bajaj Auto, Larsen and Toubro and IndusInd Bank saw the biggest losses
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Brent crude futures fell 20 cents, or 0.2%, to $86.46 a barrel by 0435 GMT while U.S. West Texas Intermediate crude was at $79.57 a barrel, down 11 cents, or 0.1%.