Key benchmark equity indices started Wednesday’s trade on a tepid note amid subdued cues from global peers post-release of the US FOMC minutes, which revealed that the members want the policy to remain restrictive for longer.
The S&P BSE Sensex opened 91 points lower at 68,840, and was seen quoting around 65,900. The NSE Nifty50 was seen hovering near 19,800 level.
Among individual shares, Titan, Bharti Airtel and Wipro were the early movers, while private banks and IT stocks kicked-off trade on a weaker note.
Meanwhile, the BSE MidCap and SmallCap indices had moved 0.2 per cent higher.
Global Cues
Asian stocks backed away from 2-1/2-month high on Wednesday and the dollar found support as investors’ tempered some of their earlier enthusiasm about the prospect of an end to US rate hikes.MSCI’s broadest index of Asia-Pacific shares outside Japan has gained more than 3 per cent since a week ago and hit its highest since September on Tuesday. But it fell 0.2 per cent in early trade on Wednesday. Japan’s Nikkei rose 0.5 per cent.
US stocks retreated on Tuesday, with the S&P 500 and Nasdaq snapping five-session winning streaks as retailers declined after some disappointing outlooks and as technology shares fell.
Comments
0 comment