Indian equity benchmarks are tipped to witness a gap up opening on Thursday tracking a bullish trend in markets across Asia and a positive finish at Wall Street overnight after the US Federal Reserve scaled back its trajectory for raising interest rates this year, citing rising global economic and financial risks to growth in the world’s biggest economy, bolstering risk taking appetite. SGX Nifty is trading 79.50 points higher. Indian stock markets clawed back losses to close higher on Wednesday, led by gains in beaten-down healthcare stocks such as Lupin LUPN.NS and as a rise in crude oil prices propped up global markets.. The S&P BSE Sensex and CNX Nifty ended 0.53%-0.51% higher each.On Wednesday (March 16, 2016), 30-share Sensex ended at 24682.48, up by 131.31 points, or by 0.53%, and the NSE Nifty ended at 7498.75, up by 38.15 points, or by 0.51%.
Asian shares gained across the board on Thursday and the dollar was on the defensive after suffering substantial losses as risk appetite revived after the U.S. Federal Reserve reduced the number of interest rate hikes expected this year.
European stocks ended little changed on Wednesday, coming off session highs after a report showed U.S. inflation rose more than expected last month, with gains for energy and auto company shares offset by a weaker banking sector.
U.S. stocks rallied after the Federal Reserve left interest rates unchanged and signaled more gradual increases..
Major Headlines of the day:
IOC, OIL, BPRL to buy 29.9% stake in Russian oil field for $1.3 bn
TVS Motors' products will be sold through Snapdeal also now
Reliance Jio to raise Rs 5,000 cr via debentures.
Trend in FII flows:The FIIs were net sellers of Rs -625.58 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 680.16 Cr, as per the provisional figures released by the NSE.
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