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.
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