Tuesday, March 20, 2018
INDIAN EQUITY MARKET OUTLOOK - 21 Mar 2018
Sensex rises 250 pts, Nifty reclaims 10,200 ahead of Fed meet outcome
The market is likely to open mildly higher on Wednesday, tracking positive trend in global peers. The Nifty50 closed 30 points higher at 10,124 on Tuesday.
SGX Nifty also indicate a positive start to the market as it was trading 17 points higher at 10,175 on the Singapore Stock Exchange.
Most Asian markets traded higher, following positive lead from Wall Street, with more focused on the Federal Reserve after it kicked off its March meeting. The Hang Seng was up 1.2 percent while Kospi, Shanghai Composite and ASX 200 were up 0.2-0.4 percent.
US stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains.
The rupee edged marginally higher by 1 paisa to 65.19 against the US dollar in early trade ahead of the Federal Reserve's policy decision today.
Besides, the dollar's weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.
A higher opening in the domestic equity market influenced the currency's movement,Yesterday, the domestic unit had slipped by 3 paise to end at 65.20 a dollar due to demand uptick for the greenback.
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