Sensex Today: Amid investors focus turned to the US Federal Reserve policy meeting for cues on future rate hikes, key benchmark indices snapped their four-day winning streak. Investors expect the global central bank to hike interest rates by 75 basis points, with hopes of softening the rate hike cycle thereafter.
The S&P BSE Sensex touched a high of 61,210 in opening trades, but soon slipped into red and drifted to a low of 60,794 on the back of weakness in IT, telecom and select auto stocks. The Sensex finally ended 215 points lower at 60,906.
The NSE Nifty ended with a loss of 62 points at 18,083.
Among individual stocks, shares of LIC Housing Finance plunged 13 per cent after the company reported a disappointing set of numbers in Q2FY23. READ MORE
Besides, shares of Karnataka Bank soared 20 per cent to hit upper circuit of Rs 112.55 per share, after the company’s net profit grew 228 per cent YoY (an all-time quarterly high) to Rs 411.5 crore in Q2FY23.
Global Cues
Asian shares wobbled in cautious trading on Wednesday while the dollar sagged slightly as investors braced for the U.S. Federal Reserve’s policy outcome later in the global day with many looking for any signs of a slowdown in future rate hikes.
Tokyo stocks opened lower on Wednesday, extending falls on Wall Street after mixed US economic data added to nervousness ahead of a major decision by the Federal Reserve. The benchmark Nikkei 225 index was down 0.36 per cent, or 98.66 points, at 27,580.26 in early trade, while the broader Topix index was down 0.06 per cent, or 1.11 points, at 1,937.39.
US stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes.
Read all the Latest Business News here
Comments
0 comment