Domestic stock indices opened on a flat note on Thursday. At 9:20 am, the S&P BSE Sensex advanced 31.70 points or 0.09 per cent to trade at 36,573.97. The broader NSE’s Nifty50 index climbed 8.40 points or 0.08 per cent to trade at 11,062.20. Global equities ran out of steam on Thursday and US bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening with forecasts of five more rate hikes by 2020.
The Fed bumped up its policy target by a quarter of a percentage point to 2.00-2.25 percent and indicated that it foresees another rate rise in December, three more next year, and one in 2020.
Prominent gainers in the 30-share Sensex pack in the session were Coal India (+1.77%), Sun Pharma (+1.71%), Yes Bank (+1.52%), Tata Steel (+1.36%), Asian Paints (+1.22%) and Tata Motors (+1.15%).
Induslnd Bank (+0.39%), Dr Reddy’s (+0.35%), Larsen & Tourbo (+0.32%), Kotak Bank (+0.29%) and NTPC (+0.21%) led the pack of Nifty gainers.
On the other hand, main losers in the 30-share Sensex pack in the morning session were HDFC Bank (-0.31%), HDFC (-0.70%) and Wipro (-0.92%). The top laggard in the 50-share Nifty pack was Axis Bank (-0.07%).
Globally, oil prices rose on Thursday, lifted by looming US sanctions against major crude exporter Iran.
Meanwhile, domestic stock markets closed lower on Wednesday, dragged by consumer goods and IT stocks. The S&P BSE Sensex declined 109.79 points to end at 36,542.27. The NSE’s Nifty50 index dropped 13.65 points to settle at 11,053.80. (With agencies inputs)