Leaders Online: The US Federal Reserve on Wednesday announced its decision to keep interest rates unchanged. This has raised hopes of an interest rate cut in June. Against this backdrop, the Indian stock market started with a boom on Thursday (21st). The Sensex rose over 550 points to 72,680 in early trade. Nifty has started trading at 22 thousand. IT, Metals Government Banking stocks are the most bullish. Overall, shopping is going on in all areas.
The initial rally saw the market capitalization of all listed companies on the BSE increase by Rs 4.32 lakh crore to Rs 378.44 lakh crore, The Economic Times reported.
Top gainers on Sensex are Tata Steel, JSW Steel, IndusInd Bank, Wipro, Power Grid, NTPC, Bajaj Finserv, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank. Maruti, Nestle shares have fallen slightly. (Stock Market Updates)
BPCL, Tata Steel, Hindalco, NTPC, IndusInd Bank are top gainers on Nifty. So Apollo Hospital, Maruti, Nestle India, Hero Motocorp, Dr. Reddy shares are showing a minor decline.
The US Fed kept interest rates between 5.25 percent and 5.5 percent as expected. No change has been made in it. This has a positive impact on the stock market. Nifty IT bounced around 1 percent, led by LTTS, Coforge, Wipro and HCL Tech, following the Fed's forecast of three interest rate cuts this year.
Domestic benchmark indices Sensex and Nifty also rose on Thursday due to gains in IT stocks. Global investor sentiment has been lifted after the US Federal Reserve maintained its forecast of three rate cuts this year.
