Yahoo Finance Street Mood Ahead of Fed Decision: Nifty Posts Marginal Gains, Metals Outshine
Investing.com -- Indian equity benchmark indices traded with marginal gains on Wednesday ahead of the US Fed’s interest rate decision later in the day, along with Fed Chair Jerome Powell’s post-policy press conference.
At 13:15 IST (07:45 GMT), headlines Nifty50 advanced 0.19% to 18,752.55 levels and Sensex gained 74.24 points or 0.12%. The market fear barometer India VIX rose 1.42% to 11.26 levels while writing.
A jump in metal stocks is driving the market on positive grounds with support lent from state-owned market heavyweights Power Grid Corporation of India (NS:PGRD) and NTPC (NS:NTPC). On the other hand, IT and banking stocks exerted pressure on Dalal Street.
The sectoral indices under the Nifty umbrella traded mixed in Wednesday’s session, with Nifty Metal surging over 1% and Nifty Bank down 0.2%.
Tata Consumer Products' (NS:TACN) shares surged 5.4% and hit a fresh 52-week high in the session, leading the Nifty50 pack. Bajaj Finserv (NS:BJFS) was the worst performer on the index, followed by banking giants IndusInd Bank (NS:INBK) and ICICI Bank (NS:ICBK).
Key US contracts Dow Futures slipped 0.1% and Nasdaq 100 Futures rose 0.2%.
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