Sensex today: Share Market Today LIVE Updates: Sensex at day’s high, up 100 points, Nifty holds 18,700; Metal pack surges 1%, IT worst sectoral performer
12:12 PM
India’s wholesale prices fell 3.48% in May
India’s wholesale prices fell 3.48% year-on-year in May, government data showed on Wednesday. Economists polled by Reuters had estimated the wholesale price index for May to fall 2.35%. WPI for April fell 0.92%
11:50 AM
Tokyo stocks end higher
Tokyo shares ended higher Wednesday following US gains as investors turned bullish on growing speculation that the Federal Reserve will skip a rate hike. The benchmark Nikkei 225 index jumped 1.47 percent, or 483.77 points, to end at 33,502.42, while the broader Topix index added 1.31 percent, or 29.74 points, to 2,294.53.
11:25 AM
Gold rises as dollar weakens ahead of Fed decision
Spot gold rose 0.3% to $1,948.49 per ounce by 0500 GMT. U.S. gold futures edged 0.2% higher to $1,961.70.
The U.S. dollar eased, making greenback-priced bullion more appealing to overseas buyers. [USD/]
10:33 AM
Bond yields seek cues from Fed meet as data hints at pause
The benchmark 7.26% 2033 bond yield was at 7.0176% as of 10:00 a.m. IST, after closing at 6.9998% in the previous session. The benchmark yield had eased four basis points in the last two sessions.
09:45 AM
MARKET VIEW | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
But Nifty is unlikely to race past the new record highs since valuations are challenging and the US inflation cues are not so favourable. Even though US CPI inflation has declined to 4 %, the core inflation, which is more significant, is stuck at around 5%. Therefore, the Fed is likely to sound hawkish even while pausing rates today.
Some profit booking at high levels will be a good idea at this juncture. Chasing this rising market at high valuations will be risky.
The two-day US FOMC meeting concludes today, with the status quo policy stance looking a script written on stone. The calls for a rate pause have got louder following a sharp slowdown in consumer price inflation released yesterday. We believe that the US Fed would breathe a sigh of relief as the core point of discussion i.e. inflation is moving to a lower trajectory and provides the central bank a leeway to adopt a “wait and watch” approach to its hawkish monetary policy. We would be closely monitoring the post-meeting commentary from the Fed Chair, Jerome Powell, for signs of a pivot to rate hikes. Additionally, the central bank’s reading of the financial stability and a probable slowdown in economic growth would be eyed for gauging the use of further ammunition by the Fed at its next policy meeting in July.
– Manish Chowdhury Head of Research Stoxbox on FOMC outcome expectations
Markets may witness upward trajectory in Wednesday trades following sharp gains in the US markets after the country’s inflation moderated, thus raising hopes that the Fed may take a dovish stance in the wake of cooling inflation. Another global factor that could help keep local traders in good stead is the lowering of a key interest rate by the People’s Bank of China. The move was aimed at injecting additional funds into the banking system to prop up growth. Investors will also pay close attention to FOMC Chairman Jerome Powell’s comments on the policy outlook. In case the Fed keeps rates unchanged, the feel good factor could have a rub off effect on benchmark Nifty that may help the index reach its all-time-high of 18888 sooner than later.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
07:24 AM
Markets Live Updates: SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 39 points, or 0.21 per cent, higher at 18,824, signaling that Dalal Street was headed for positive start on Wednesday.
07:24 AM
Tech View: Nifty key hurdle at 18,777-18,888
Indicating a continuation of upside movement in the market after a small dip, Nifty on Tuesday formed a bullish candle on the daily chart after days of lackluster move. Now, it has to hold above 18,676 zones to witness an upmove towards 18,777 and 18,888 zones, while on the downside, support exists at 18,636 and 18,550 zones, said Chandan Taparia of Motilal Oswal.
07:24 AM
Markets Live Updates: Tokyo shares open higher ahead of Fed decision
Tokyo shares opened higher Wednesday following US gains as investors awaited the US Federal Reserve’s rate decision.The benchmark Nikkei 225 index jumped 0.94 percent, or 311.44 points, to 33,330.09 in early trade, while the broader Topix index added 0.84 percent, or 19.13 points, to 2,283.92.
07:24 AM
US stocks end higher as inflation data cements bets on rate hike pause
The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday.
07:23 AM
Rupee rises 18 paise against US dollar
The rupee gained 18 paise to settle at 82.25 against the US dollar on Tuesday, as a weak greenback overseas and strong macroeconomic data supported investor sentiments.
07:23 AM
Markets Live Updates: Oil prices dip after unexpected rise in US crude stocks
Oil prices inched lower on Wednesday after industry data showed an unexpected rise in U.S. crude stocks, signalling weak demand to markets already worried about recession and disappointing Chinese economic data.
07:23 AM
Sensex, Nifty on Tuesday
The 30-share BSE benchmark Sensex advanced 418 points or 0.67% to settle at 63,143. The broader NSE Nifty surged 114 points or 0.62% to end at 18,716.
