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Nifty closes at all-time high amid US Fed’s support

Nifty50 closed Thursday’s trading session at an all-time high amid positive Asian and European markets following US Federal Reserve’s decision to raise…

Nifty closes at all-time high amid US Fed’s support

(Getty Images)

Nifty50 closed Thursday’s trading session at an all-time high amid positive Asian and European markets following US Federal Reserve’s decision to raise interest rates by 25 bps.

The Sensex at the BSE closed 188 points up at 29,586 and the Nifty at the NSE ended 69 points higher at 9,154. Earlier on March 14, the Nifty had hit a record high of 9,122 

Broader markets again outperformed the key benchmark indices. BSE Midcap index jumped 1.6 per cent while Smallcap index surged 1.1 per cent.

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All the BSE sectoral indices, except Telecom indiex, closed in the positive zone with Metal index leading the gains, up 2.8 per cent. Telecom index slipped 0.4 per cent.

Sail, Hindustan Zinc and JSW Steel were the leading stocks in the metal sector, up 5-6 per cent.

On Wednesday, the Sensex had closed 45 points down at 29,398 and the Nifty had closed two points lower at 9,085.

Top gainers in the Sensex-30 pack: Adani Ports (up 4.7 per cent), Tata Steel (up 4.3 per cent), Bajaj Auto (up 2.3 per cent), Asian Paints (up 2.2 per cent) and Infosys (up 1.6 per cent).

Top losers in the Sensex-30 pack: Hero Motocorp (down 1.5 per cent), Bharti Airtel (down 0.8 per cent), Reliance Industries (down 0.5 per cent), Coal India (down 0.4 per cent) and ICICI Bank (down 0.3 per cent).

In world markets, US stocks closed higher on Wednesday following US Fed’s decision to hike interest rates gradually.

The US Federal Reserve on Wednesday hiked interest rates by 25 bps, as expected, signaling no pick-up in the pace of tightening rates.

Tracking the Federal Reserve’s move, Asian markets registered gains. China’s Shanghai Composite Index, Singapore’s Straits Times Index and Korea’s KOSPI index rose around 0.8 per cent each, Hong Kong’s Hang Seng surged over 2 per cent and Japan’s Nikkei 225 Index inched up 0.1 per cent.

European markets also opened in the green zone, FTSE 100, CAC 40 and DAX indices were trading higher around 0.8 per cent each.

Back home, the Rupee continued its upward trend and closed 28 paise higher at 65.54 against the US Dollar.

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