Equity indices pared their gains in the fag-end of the session and ended flat as US index futures indicated a subdued start on Wall Street later today. At close, the Sensex was up 33.20 points or 0.06 per cent at 55,702.23, and the Nifty was up 5.10 points or 0.03 per cent at 16,682.70. About 1491 shares have advanced, 1771 shares declined, and 116 shares are unchanged.
IndusInd Bank, Tata Consumer Products, Britannia Industries, UltraTech Cement and Nestle India were among the top Nifty losers, while gainers were Tech Mahindra, Hero MotoCorp, Infosys, HCL Technology and Wipro.
Among sectors, power, capital goods and IT indices rose 1-2 per cent each. However, realty, FMCG and pharma indices fell 0.5-1.5 per cent.
Among stocks, Havells India fell around 2 per cent. The consumer electrical goods maker on Wednesday reported a 16.01 per cent increase in its consolidated net profit to Rs 352.48 crore for Q4, while its revenue was up 32.55 per cent to Rs 4,426.26 crore during the period.
While, ABB India rose 7 per cent after it posted an over two-fold jump in its net profit to Rs 370 crore in the March quarter compared to the year-ago period mainly on the back of higher revenues.
In a surprise move, the Reserve Bank of India raised the key repo rate by 40 bps on Wednesday, just ahead of the US Fed policy decision. The off-cycle hike came as a shock to markets, which plunged sharply.
Meanwhile, in the US, the S&P 500 recorded its biggest single-day percentage gain in more than two years, up 3 per cent. Dow Jones surged 2.8 per cent, and Nasdaq soared 3.2 per cent after the US Federal Reserve hiked interest rates by 50 bps and announced its plan to trim the $9 trn asset portfolio from June onwards. Moreover, the US Fed Chair relieved the markets as he said a 75-bps rate hike is not on cards right now.
Global Cues
US stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly two years. The Dow Jones Industrial Average rose 932.27 points, or 2.81 per cent, to 34,061.06, the S&P 500 gained 124.69 points, or 2.99 per cent, to 4,300.17 and the Nasdaq Composite added 401.10 points, or 3.19 per cent, to 12,964.86.
Hong Kong stocks started Thursday with a healthy advance after the Federal Reserve lifted interest rates but played down any chance of a huge 75 basis-point lift in the near future. The Hang Seng Index climbed 1.41 per cent, or 293.63 points, to 21,163.15. The Shanghai Composite Index dipped 0.07 per cent, or 2.21 points, to 3,044.85 as traders returned from an extended break this week, while the Shenzhen Composite Index on China’s second exchange dropped 0.66 per cent, or 12.39 points, to 1,866.49.
Asian shares tracked Wall Street gains on Thursday after the US central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment but sending yields and the dollar lower. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.52 per cent, although trading was thin with Japanese and Korean markets closed for public holidays.
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