Sensex up today: Eye on Fed decision: Sensex gains 145 points; Nifty dips above 18,650 | Jobs Vox


Ahead of the US Federal Reserve’s policy decision to raise interest rates late in the evening, domestic equity indices traded in a limited range on Wednesday and closed higher, led by banking, financials, auto and IT stocks.

The 30-share Sensex ended 145 points higher at 62,678, while its broader peer Nifty 50 ended above the 18,650 level.

“Better-than-expected inflation readings in the world’s major economies, combined with increased appetite for IT stocks, helped domestic market sentiment,” Vinod Nair, head of research at


“A reduction in US inflation to 7.1% in November will reduce the chances of the Fed being hawkish.” While the Fed is widely expected to raise rates by 50 basis points, their comments on future inflation and rates will dominate market movements,” Nair added.

In the Sensex package,

, , , SBI and were the biggest gainers, rising by around 1-2%. L&T, TCS, Dr Reddis Labs and also closed with gains.

On the other hand, Nestle

, and closed with incisions.

“Markets traded range bound today on the back of favorable VPI press with action seen in select IT names as well as PSU banks. Stocks of select auto components witnessed accumulation during today’s trade,” said S Ranganathan, head of research at the company.

Sector-wise, Nifti Metal rose 1.25%, while Nifti IT advanced 1.15%. Nifti Consumer Durables and Nifti Realty also closed higher. In the broader market, the Nifty Midcap50 rose 0.82%, while the Smallcap50 gained 0.48%.

Asian markets rose today, with Japan’s Nikkei 225 up 0.75 percent and South Korea’s Kospi up 1.13 percent, while China’s Shanghai Composite remained flat.

The rupee posted its best performance against the dollar in over a month today. The rupee ended at 82.46 against the dollar, up from 82.80 in the previous session. While February Brent crude futures rose 0.88% to $81.39 a barrel.

Market breadth was skewed in favor of the bulls. About 2,036 advanced, 1,494 declined and 147 remained unchanged on the BSE.

The market capitalization of all listed companies on the BSE increased by 1.20 crores to 291.21 crores.


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