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Sensex ends up 174 pts, Fed move eyed; MM drags 5%

Dec 16, 2015, 04.11 PM | Source: Moneycontrol.com

The market was cautiously optimistic as the crucial FOMC meet will decide interest rates tonight. Most analysts are hoping that the Federal Reserve will increase rates for the first time in a decade. Ridham Desai, MD & Head of India Research, Morgan Stanley feels that the Indian market will gain if Fed hikes rates.

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Sensex ends up 174 pts, Fed move eyed; M&M drags 5%

The market was cautiously optimistic as the crucial FOMC meet will decide interest rates tonight. Most analysts are hoping that the Federal Reserve will increase rates for the first time in a decade. Ridham Desai, MD & Head of India Research, Morgan Stanley feels that the Indian market will gain if Fed hikes rates.

16:02

TheNewsInternational Team

The market was cautiously optimistic as the crucial FOMC meet will decide interest rates tonight. Most analysts are hoping that the Federal Reserve will increase rates for the first time in a decade. Ridham Desai, MD & Head of India Research, Morgan Stanley feels that the Indian market will gain if Fed hikes rates, adding that the rupee too will be stable. According to him India is much better placed in the world with respect to leverage.

Continuing the positive trend, the market ended higher on Wednesday. The Sensex was up 173.93 points or 0.7 percent at 25494.37 and the Nifty ended up 50 points or 0.6 percent at 7750.90.  About 1421 shares advanced, 1273 shares declined, and 214 shares were unchanged.

Meanwhile, Wall Street is bracing up for a rate hike by the Fed. The central bank officials have gathered in Capitol Hill for their 2-day meeting. 

Oil prices continued steady decline today. This, after  OPEC, said that this low price trend wouldn’t last long.

Back home, auto stocks hogged limelight as Mahindra and Mahindra ended 5 percent lower. Auto index was down 0.5 percent from previous close.

In a landmark judgement, the Supreme Court has cracked the whip to clean up the capital’s toxic air. A slew of measures including ban on new diesel SUVs and luxury cars and a 100 percent hike in green tax on trucks have been imposed. The ban is not just for Delhi, it will be imposed on the entire national capital region, encompassing 34,000 sqaure kilometres.

ITC, Hindalco, Wipro and Maruti were other losers in the Sensex. Among gainers were ONGC, Bharti Airtel, ICICI Bank, Lupin and Infosys.

Market Close – 16th Dec
Created by Moneycontrol

On macro front, passage of the goods and service (GST) tax seems increasingly remote amid continued disruption of parliamentary proceedings with only 5 days left for the winter session. Industry leaders met the Finance Minister today and pledged their support to the bill that is touted to be a game-changer for India commerce and industries.

14:00

Nifty ends above 7750, Sensex up 174 pts; Bharti, ONGC lead

Bharti Airtel, ONGC and Cairn India topped buying list on Sensex, up 4 percent. ICICI Bank, Lupin, GAIL, Power Grid and Idea Cellular were up 1.5-3 percent while M&M plunged 5.43 percent.

Read More »

13:00

Sensex, Nifty maintain uptrend; Bank & IT indices gainersRead More »

Bharti Airtel, GAIL, ONGC, ICICI Bank and NTPC are top gainers while M&M, ITC, Wipro and Maruti are losers in the Sensex.

Read More »

12:00

Sensex, Nifty strong; GAIL, Bharti, ONGC lead gainersRead More »

Shares of ONGC, Bharti Airtel, GAIL and ICICI Bank rallied 2-4 percent followed by Infosys, TCS, HDFC, L&T, SBI and Axis Bank. Mahindra & Mahindra was down nearly 4 percent after the Supreme Court has put a ban on registration of diesel vehicles (having over 2000cc engine capacity) partially in Delhi.

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11:19

Sensex, Nifty hold gains; M&M falls 4%, ITC down 1%Read More »

GAIL, ONGC, Bharti Airtel, ICICI Bank and BHEL are top gainers while M&M, ITC, Wipro and Coal India are losers.

Read More »

10:00

Sensex up 200 pts, Nifty above 7750 on positive global cuesRead More »

The broader markets also traded in line with benchmarks as the BSE Midcap and Smallcap indices gained 0.8 percent each.

Read More »

09:15

Sensex opens higher, Nifty still below 7750; M&M, Wipro dipRead More »

M&M, Wipro and Tata Motors are major losers while NTPC, TCS, HDFC twins and Tata Steel.

Read More »

READ MORE ON  bse, sensex, nifty, market, federal, reserve, NSE, BSE, M&M, Bharti, ONGC, ITC
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