Indian equity benchmark indices opened on a positive note on Thursday with Nifty above 15,800.
The US Federal Reserve raised interest rates by 75 basis points (bps), the highest seen since 1994 and signalled to continue its path towards hawkish stance, in order to abate inflationary pressures. With this, the Federal Reserve's benchmark federal funds rate will increase in the range of 1.5 per cent to 1.75 per cent. (Read More)
At 09:16 am, the 30-scrip S&P BSE Sensex was up 506.41 points or 0.96 percent at 53,047.80. The broader Nifty was up 142.40 points or 0.91 percent at 15,834.60.
Reliance Industries, Bajaj Finance, IndusInd Bank, ICICI Bank and Bajaj Finserv were among major gainers on the Nifty.
ONGC, Nestle India, Bharti Airtel, SBI Life Insurance and Dr Reddy’s Laboratories, were on the other hand, major laggards.
In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, up to 1 percent higher.
Amid sectoral indices, Nifty financials, PSBs, banks, auto realty, consumer durables and oil & gas pockets led the gains.
Global Markets
The US equity markets welcomed the hawkish stance and closed higher in trade on Wednesday. NASDAQ Composite gained the most - as it surged over 2 percent, while Dow Jones and the S&P 500 edged above 1 percent, each.
Asia-Pacific markets, too, followed the footsteps and edged higher in Thursday's morning trade. Japan's Nikkei 225 rose nearly 2 percent, whereas, South Korea's Kospi was up 1.6 percent.
Investors will also track Bank of England's interest rate decision, US jobless claims data, as well as Chinese industrial production data today.
First Published: Jun 16, 2022 9:52 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM
In Ayodhya, voters talk of a promise fulfilled and yearning for development
May 17, 2024 2:10 PM
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM