Stock Market LIVE Updates: Sensex, Nifty50 likely to open higher after Fed's expected rate hike
Posted On May 5, 2022
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Stock Market LIVE Updates
: Indian equity benchmarks BSE Sensex and NSE Nifty50 built on opening gains on Thursday tracking positive global cues, after the Fed hiked the key interest rate by an expected 50 bps and ruled out more aggressive tightening of policy going forward. All sectors were in the green on Dalal Street, with financial, IT, auto and metal shares being the biggest movers for headline indices. Broader markets also strengthened. The Nifty Midcap 100 and Nifty Smallcap 100 indices rose around one percent each. On Wednesday, an out-of-cycle rate hike of 40 bps by the RBI along with an increase in the cash reserve ratio had caught Dalal Street by surprise, turning the bulls nervous.
First Published: May 05, 2022, 07:46 AM IST