Mumbai, Sep 19 (IANS) Indian frontline equity indices closed in green on Thursday, buoyed by the US Federal Reserve’s decision to cut interest rates by 50 basis points, exceeding market expectations.
At closing, Sensex was up 236 points, or 0.29 per cent, at 83,184 and Nifty was up 38 points, or 0.15 per cent, at 24,415.
Selling was seen in the midcap and smallcap stocks. Nifty midcap 100 index was down 400 points, or 0.67 per cent, at 59,351 and Nifty smallcap 100 index was down 244 points, or 1.26 per cent, at 19,144.
Among the sectoral indices, Auto, fin service, FMCG, realty and pvt bank were major gainers. IT, PSU bank, pharma, metal, media and energy were major laggards.
In the Sensex pack, NTPC, Kotak Mahindra Bank, Titan, Nestle, HUL, Maruti Suzuki, Asian Paints, HDFC Bank, Bharti Airtel, Sun Pharma, and Axis Bank were the top gainers. L&T, TCS, JSW Steel, HCL Tech, Wipro, Tata Steel, Tech Mahindra, and SBI were the top losers.
Rupak De, Senior Technical Analyst at LKP Securities, said: “The Nifty formed a shooting star pattern on the hourly chart, suggesting an early sign of a bearish reversal. Additionally, the Nifty failed to close above the rising trendline despite a gap-up opening and strong global cues. Going forward, the sentiment may remain sideways to weak as long as the index stays below the 25,550–25,600 range.”
“On the lower end, support is placed at 25,350. Below which the Nifty might correct down towards 25,100-25,000,” De added.
Amit Golia, Group CEO of MarketsMojo said: “After the Fed decision, markets may shift their focus to how these rate cuts affect corporate earnings and broader economic health, especially if global demand continues to weaken.”
The foreign institutional investors (FIIs) bought equities worth Rs 1,153 crore on September 18, while domestic institutional investors also bought equities worth Rs 152 crore on the same day.
–IANS
avs/vd
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.
