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Stock Market Update: Sensex Rises 50 points, Nifty Above 17,800 Ahead of US Fed Policy Outcome

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Last Updated: September 21, 2022, 09:22 IST

Markets opened lower on Wednesday morning

Sensex Today: The benchmark Sensex and Nifty indices started on a weak note on Wednesday morning after a two-day rally.

Sensex Today: The benchmark Sensex and Nifty indices started on a weak note on Wednesday morning after a two-day rally.

Anand James – Chief Market Strategist at Geojit Financial Services, said: “The bullish exhaustion that emerged after entering the 17,860-960 band hints at a full-fledged reversal, but we are inclined to look for a bounce back from the 17,700 vicinity. However, a close below the same today could substantially increase the odds of a 17000-16650 plunge, though one may wait for a break of 17,430 as confirmation.”

Global Cues

Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve later in the day. Japan’s Nikkei dropped 1.26% and touched a two-week low. Australia’s benchmark share index slid 1.35% and South Korea’s Kospi fell 0.9%.

Tokyo stocks opened lower Wednesday, extending falls on Wall Street ahead of a Federal Reserve meeting widely expected to produce a three-quarter-point interest rate hike.

Wall Street ended Tuesday lower as the eve of a U.S. Federal Reserve meeting expected to bring another large interest rate hike brought further evidence of the impact on corporate America from the inflation that the U.S. central bank wants to tame.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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