Sensex gains 343 points, Nifty up 106 points – M&M, IndusInd top gainers
- Stock markets are expected to remain cautious ahead of the US Fed monetary policy meeting this week.
- The US Fed meeting is scheduled from September 20 to September 21 this week.
- After opening on a flat note, Sensex gained 0.47% at 59,142 points and Nifty50 went up by 0.54% at 17,625 today.
- Banks, auto and IT, metal were the biggest gainers while metals and pharma were the losers.
AdvertisementAfter opening on a flat note, Sensex gained 343 points to trade at 59,142 and Nifty50 went up by 106 points to 17,625 in early trade.
Indian markets might show cautiousness ahead of the US Fed monetary policy meeting this week, say experts.
The US Fed meeting is scheduled from September 20 to September 21 this week. Overall, predictions say that the US central bank would continue to hike interest rates.
Analysts believe that the Fed meeting will be the center of attention this week.
“Globally, the Fed’s interest rate decision can trigger jitters in the markets. Given the US Fed’s hawkish stance, some people are expecting even a 100 bps rate hike. US markets already faced deep cuts when they reacted to the figures of headline CPI and core inflation for August’22,” said Apurva Sheth, head of market perspectives at Samco Securities.
The Bank of England will also announce its interest rate decision this week. Asian markets remained under pressure as reportedly 13 central banks across the world are expected to raise interest rates.
“Although India has done significantly better than all the other major markets, it is expected to remain volatile,” Sheth said.
Banks, auto and IT, metal were the biggest gainers today, while metals and pharma were the top losers.
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|Adani Ports and SEZ||1.56%|
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