MARKET UPDATE:Sensex rose 482.5 points to quote at 58,270.5 levels while the Nifty climbed 142 points to trade at 17,362
Published On: Thursday, December 16, 2021 | By: Team KnowMyStock
Indian stocks in tune with Asian stocks followed Wall Street higher today(16th Dec.2021) after the US Federal Reserve said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation. The S&P BSE Sensex rose 482.5 points, or 0.83 percent, to quote at 58,270.5 levels in early trade. The NSE Nifty, too, climbed 142 points to trade at 17,362. The broader indices on the BSE rose in tandem as well and added up to 0.88 percent. The Federal Open Market Committee (FOMC) laid out a scenario in which the Covid-19 pandemic, despite the emergence of the Omicron variant, gives way to a benign set of economic conditions, with inflation easing largely on its own, interest rates increasing comparatively slowly, and the unemployment rate staying low in coming years.
Snapping its 3-day losing streak, Bajaj Finance bounced back over 2 per cent and was the top gainer on the BSE Sensex. Infosys, Bajaj Finserv, HCL Tech, SBI, Tech M, and IndusInd Bank were the top gainers.On the downside, Sun Pharma, Asian Paints, and HUL were the only losers.
Among sectors, the Nifty IT and Realty indices soared over 1 per cent each while all others gained up to 1 per cent.
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