🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Nifty tops 19,800 ahead of Fed outcome, India VIX jumps 6%

Published 07/26/2023, 03:26 AM
NSEI
-
NIFVIX
-
NSEBANK
-
NIFTYFMCG
-
NIFTYPSU
-
ITC
-
LART
-
MAHM
-
APSE
-
RELI
-
TITN
-
BSESN
-
SBIL
-
NIFCODU
-

Investing.com -- Major Indian indices made a positive opening on Wednesday amid mixed cues from global markets and ahead of the Federal Reserve’s monetary policy decision later in the day.

At 03:00 ET (07:00 GMT), benchmark index Nifty rose 0.68% to 19,814.2 points and the 30-scrip Sensex surged 0.71% or 471.1 points. The Indian market volatility barometer India VIX jumped 6% to 10.86 levels.

Behemoths including Larsen & Toubro (NS:LART), Reliance Industries (NS:RELI), ITC (NS:ITC), and Adani Ports (NS:APSE) led the support in the Indian market, pushing both the headlines higher, also outperforming its Asian peers ahead of the Fed’s two-day July monetary policy meeting decision.

The Sensex snapped a three-day losing run on Wednesday, with most stocks seen trading in the green. The index has zoomed 6.14% over the past month, while the Nifty 50 is up 6% in this period.

Barring Nifty Consumer Durables, all the sectoral indices listed under the Nifty umbrella traded in the green, led by an over 1% jump in Nifty PSU Bank, followed by Nifty FMCG. Nifty Bank traded 0.23% higher.

The automaker giant M&M (NS:MAHM) led the losses on the Nifty pack, along with heavyweights including SBI Life (NS:SBIL) and Titan (NS:TITN).

Investors globally await the US Fed’s interest rate hike announcement scheduled for later today, followed by Fed Chair Jerome Powell’s press conference.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.