Tuesday, April 16, 2024
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MARKET LIVE: SGX Nifty signals tepid open after US Fed’s 50 bps rate action


Domestic are likely to have a quiet start on Thursday amid muted global cues, after the (US Fed) hiked rates by 50 basis points in its December meeting to 4.25-4.5 per cent, highest seen in 15 years.

Globally, the US equities reacted negatively to the US Fed’s rate action as Dow Jones declined over 100 points to 0.4 per cent. NASDAQ Composite and the S&P 500, meanwhile, lowered to 0.7 per cent and 0.6 per cent, respectively.

Asia-Pacific markets, too, fell in tandem with Nikkei 225, Hang Seng, the S&P 200, and Kospi indices slipping up to 2 per cent.

In the commodities market, prices of Brent Crude slipped 0.7 per cent to $82 per barrel and WTI Crude hovered around $76 per barrel, down 0.8 per cent.

Back home, shares of Bharti Airtel will be in focus after the telecom operator launched 5G Plus services in Lucknow.

Besides, shares of Poonawalla Fincorp will be tracked after they sold housing arm to for Rs 3,900 crore.


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