Nifty opens above 9600, Sensex rises over 65 points, the BSE Sensex opened at 31222 higher by 67 points, while the Nifty50 opened down by 1 points at 9617 mark. Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, Nifty50 needs to sustain above the level to witness up-move towards the levels of 9,700-9,740.
Equity benchmarks started off trade on a flat note again, as investors digested 25 basis points rate hike by Federal Reserve in its latest policy meeting.Wipro is the top Nifty gainer and Bank of Baroda is the top Nifty loser in the morning hours. In midcap space, City Union Bank, PNB, IDBI Bank, Bhushan Steel, Balaji Telefilms and Prism Cement were down over a percent while Ginni Filaments surged nearly 12 percent. Emkay Global was up 5% and SPARC gained 4 percent.
There are 692 advances, 642 declines and 480 unchanged stocks on NSE reflecting some positive bias floating in the market. The 30-share BSE Sensex was up 18.21 points at 31,174.12 and the 50-share NSE Nifty fell 7.65 points to 9,610.50.
Asian equities turned cautious on Thursday after the US Federal Reserve raised interest rates for the second time this year, as was widely expected by markets. Most Asian stocks have declined in early trade on Thursday. Japan’s Nikkei 225 has been trading with loss of 105 points; Hong Kong’s Hang Seng has lost 239 points, while China’s Shanghai Composite has shed 8 points.
The US central bank cited continued US economic growth and job market strength, proceeding with its first tightening cycle in more than a decade. The US stocks closed mixed on Wednesday after Fed hiked rates. The Dow Jones Industrial Average closed up 46 points at a record 21,375.
Wall Street dips after Fed rate hike; tech slumps again
Major Headlines of the day:
Indian Oil Corporation to set up 87 control rooms to address dealer issues on daily price revision Indian Oil says
Alkem Labs gets US FDA nod for fungal infection drug, Itraconazole Capsule.
RBI puts Central Bank of India under prompt corrective action in view of high NPA and negative return on assets
Trend in FII flows: The FIIs were net buyers of Rs -161.13 the cash segment on Wednesday while the DIIs were net sellers of Rs 71.65 as per the provisional figures.
Securities in Ban For Trade Date 15-JUN-2017: