New Delhi, March 20 (IANS) Siddhartha Khemka, Head Retail Research, Motilal Oswal Financial Services on Wednesday said that the markets are expected to remain in consolidation mode and will keenly track the US Fed commentary which would provide direction on its future rate action.
He said that Nifty traded in a range and closed with marginal gains of 22 points at 21839 levels.
“The broader market ended flat, while sector-wise it was a mixed bag. Oil & Gas, Realty, and FMCG were major gainers. Oil & Gas index rose to 1.3 per cent as crude oil price surged to a 5-month high at $87/bbl,” he said.
On the global front, England’s inflation cooled to 3.4 per cent for February, a day ahead of its central bank’s monetary policy meeting. Also, China’s central banks kept their benchmark lending rates unchanged.
Deepak Jasani, Head of Retail Research, HDFC Securities said investors awaited the conclusion of the Federal Reserve’s meeting tonight where the central bank is expected to keep borrowing costs unchanged and provide cues on its monetary policy trajectory.
“Asian shares closed mostly higher while European markets opened lower Wednesday as investors awaited the latest signals from the Federal Reserve,” he said.
–IANS
san/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
