Investors could look to cash in on bullish momentum from Tuesday, even as global markets wait for cues from US Federal Reserve’s monetary policy meeting.
The market could look to continue its bullish momentum from Tuesday, still riding on the political certainty from the state assembly elections results. This, even as global markets wait for cues from the US Federal Reserve’s monetary policy meeting, which is expected to announce a rise in interest rates. Trends on SGX Nifty indicate a steady start on the market.
The 50-share NSE Nifty hit an intraday all-time high of 9,122.75 and stayed above psychological 9,000-mark throughout the session. It was up 152.45 points or 1.71 percent to end at 9,087, backed by banks, FMCG and infra stocks.
The 30-share BSE Sensex surged 615.7 points intraday but failed to hit its record high of 30,024.74 touched on March 4, 2015. It closed up 496.40 points or 1.71 percent at 29,442.63, the highest level in last two years.
The Asian markets opened lower following losses in US stocks as traders awaited a decision on interest rates from the US Federal Reserve.
in Europe, markets ended Tuesday's session with modest losses. Traders remain in a cautious mood ahead of the Dutch election and an announcement from the US central bank.
In the US, Wall Street closed slightly lower ahead of a likely interest rate hike. Energy stocks lead the fall after US crude briefly fell 2 percent to hit a fresh three-month low.
Major Headlines of the day:
State Bank of India (SBI) could be in focus as its Board is set to meet on Wednesday. On the agenda is a decision on raising funds through equity capital.
Biocon in focus: Mylan gets US FDA nod for Exemestane tablets (used to treat breast cancer)
Bank of Baroda approved issue of non-convertible debentures (NCDs) worth Rs 500 crore with green shoe option of Rs 500 crore.
Trend in FII flows: The FIIs were net buyers of Rs 4087.89 the cash segment on Tuesday while the DIIs were net sellers of Rs -1519.94 as per the provisional figures.
Securities in Ban For Trade Date 15-MAR-2017: