The US Federal Reserve raised key rates by 25 basis points, due to strong US jobs growth and rising inflation. This is the second time Fed has raised rates in the last three months, and the third time since the 2008 financial crisis. In December 2016,The Fed had projected three hikes in 2017.
Market Snapshot for 15th Mar. 2017
Today, traders remained cautious ahead of the US Federal Reserve's rate decision. The Fed is almost universally expected to raise its benchmark interest rates, but investors are keen on seeing how much more tightening will happen this year. Traders remained on sidelines as the likelihood of a repo rate cut in April 2017 remained subdued.
Nifty 9084.80 🔽 2.20
Sensex 29398.11 🔽 44.52
CNX MidCap 16663.80 🔼 136.90
Nifty51
Top Gainer : IDEA 113.25 🔼 9.90%
Top Loser : TCS 2499 🔽 2.67%
Turnover Topper by Traded Value : RELIANCE
Turnover Topper by Traded Quantity : JPASSOCIAT
Advance / Decline : 885 / 761
New 52 Wk High in Nifty 50 : BHEL.
FIIs/FPI vs DIIs Figures : +1141.13 Cr vs +126.75 Cr
Nifty Outlook :
Even if Fed interest rate rise event was discounted, no major reaction expected. But profit booking on stretched valuations may pull down Nifty to 8975 or 8870 levels. Q4 earning are also in the corner and which may play an important role in the further journey of the market.
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