Stock Market Sees Cautious Optimism as Fed Holds Interest Rates Steady
Investors favored sectors like real estate, consumer durables, and IT, suggesting a cautiously optimistic mood, as the S&P BSE Sensex rose 204.33 points or 0.27% to 76,810.90.
Stock MarketInterest RatesUs FedRetail InflationIndustrial ProductionReal EstateJun 13, 2024
Investors favored sectors like real estate, consumer durables, and IT, suggesting a cautiously optimistic mood. The S&P BSE Sensex rose 204.33 points or 0.27% to 76,810.90. The Nifty 50 index rose 75.95 points or 0.33% to 23,398.90.
The Sensex and Nifty clocked an all-time high of 77,145.46 and 23,481.05, respectively, in early trade.
Mahindra & Mahindra (up 2.73%), Titan Company (up 2.45%), and Bharti Airtel (up 2.35%) were among the top gainers in the Nifty 50 pack.
The US Federal Reserve, led by Chairman Jerome Powell, decided to maintain interest rates, citing a moderate pace of economic growth and low inflation. This move was widely expected by market participants, and it helped to boost investor sentiment.
Mahindra & Mahindra is an Indian multinational conglomerate that operates in various sectors, including automobiles, aerospace, and financial services.
Titan Company is an Indian luxury goods company that is part of the Tata Group.
Bharti Airtel is an Indian telecommunications company that provides mobile, fixed line, and digital TV services.
Frequently Asked Questions
What was the outcome of the US Fed's decision on interest rates?
The US Fed decided to maintain interest rates, citing a moderate pace of economic growth and low inflation.
What sectors did investors favor in the Indian stock market?
Investors favored sectors like real estate, consumer durables, and IT, suggesting a cautiously optimistic mood.
What was the impact of weekly options expiry on the NSE?
The weekly options expiry on the NSE kept things jittery, despite the good news on interest rates and inflation.
What were the top gainers in the Nifty 50 pack?
Mahindra & Mahindra (up 2.73%), Titan Company (up 2.45%), and Bharti Airtel (up 2.35%) were among the top gainers in the Nifty 50 pack.
What was the impact of the US Fed's decision on the Indian stock market?
The US Fed's decision to maintain interest rates helped to boost investor sentiment and led to a cautious optimism in the Indian stock market.
Related News Articles
Investing in a Bull Market: Where to Put Your Rs 10 Lakh
Ajit Mishra, SVP, Research, Religare Broking shares cues on where to invest Rs 10 lakh in this bull market, citing opportunities in cement, renewable energy, and consumer goods.
Supreme Court Orders Audit of Maharashtra Slum Areas Act, 1971 Amidst Implementation Issues
The Supreme Court has directed the Bombay High Court to initiate suo motu proceedings and audit the Maharashtra Slum Areas Act, 1971 to identify implementation problems.
Indian Warehousing Sector Sees 8% Rise in Absorption, Mumbai Leads the Way
Warehousing and logistics sector in India witnesses growth, with Mumbai accounting for 41% of total absorption in H1 2024, driven by demand for grade-A warehouses.
Adani Electricity Launches Subsidized Power Connections for Consumers
Adani Electricity introduces temporary power connections at subsidized rates, benefiting construction and infrastructure projects in Mumbai.
Unveiling the Water Crisis in Pune's Kharadi Area: A Community's Struggle
Pune’s Kharadi area is facing a severe water crisis, leaving residents desperate for a solution. This article delves into the challenges and potential solutions for this critical issue. Home · Urban News · Mobility · Infrastructure · Real Estate · Sustain
Exploring the Investment Potential in the Real Estate Sector
Arun Sundaresan, Head of ETF at Nippon India Mutual Fund, discusses the lucrative opportunities in the real estate sector and provides insights into the Nippon India Realty Index Fund.