06

Friday

December    2019

Live News

Sensex ends 266 points higher on Fed's dovish comments

Thursday,11 Jul 2019

Mumbai,  Indian equity markets edged higher on Thursday as US Federal Reserve's dovish comments helped ease the negative sentiments owing to disappointment over the Union Budget.

Sensex closed 266.07 points higher at 38,823.11, while the Nifty advanced by 84 point to 11,582.90.

"US Federal Reserve Chair Jerome Powell's dovish comments on Wednesday cemented hopes of an interest rate cut this month in the US and soft interest rate policies across the globe," said Deepak Jasani of HDFC Securities. 

"This boosted global stocks, pulled down bond yields and weakened the US dollar. Fears of FPI selling due to the adverse provisions in the Union Budget has abated for the time being," Jasani added.

InterGlobe Aviation, the parent company of Indigo, the largest private airline in India slipped 3.07 per cent lower as investors continued to fret over the likely hood of operations getting affected by the conflict among its promoters.

Meanwhile, Foreign Institutional Investors (FIIs) have sold Rs 1,768 crore, in 5 sessions, since the Budget proposal on July 5.
 

The opinions expressed here do not reflect those of Media Eye. Legal action under the IT Act will be taken against those making derogatory and obscene statements.....

 

Comments (0)

Using 0 of 1024 Possible Characters
OPINION POLL

Fastest shorthand writer was ?

MEDIA EYE

FOLLOW US