Stock Market Today: The Sensex fell 99.29 points, or 0.16%, to 63,129.22, while the Nifty fell 17.10 points, or 0.9%, to 18,738.80. Around 1312 shares rose, 678 fell, and 104 were unchanged. Major gainers on the Nifty included Divis Labs, Hero MotoCorp, Cipla, Bajaj Auto, and UPL, while losers included Infosys, ONGC, IndusInd Bank, and TCS.
Domestic equity exchanges are expected to struggle on Thursday morning , says Senior VP of Mehta Equities
The Senior Vice President (Research) at Mehta Equities, Prashanth Tapse said that, “After US markets closed mixed overnight, domestic equity bourses are anticipated to experience difficulty in early Thursday transactions due to weakness in the SGX Nifty. Although the Fed held interest rates constant, it left the door open for another 50 basis point raise in key rates this year if inflation stays stubborn, which might spoil the party for investors expecting for a more dovish statement. With policy rate uncertainty lingering, the market might stay turbulent, with heavy bouts of intraday volatility, even as selective purchasing remains a theme. Technically, the markets can only rise above the all-time high of 18888, with the 18553 level acting as a make-or-break support for the Nifty.”
Stock Market Today: Indian rupee is expected to open little weaker
The Indian rupee is projected to open slightly lower on Thursday after the US Federal Reserve kept interest rates unchanged as predicted, but signalled additional hikes this year. Non-deliverable futures suggest the rupee will open around 82.12 to 82.14 against the US dollar, compared to a spot close of 82.0950 in the previous session.
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