Updates on the stock market include: Cipla down, Lupin up 2%, Nifty tests 19,450, and Sensex starts down
On Thursday, the Sensex and Nifty opened down due to a hawkish undertone in the FOMC minutes from the US Federal Reserve.The NSE Nifty50 began 18 points down at 19,444 while the BSE Sensex dropped 36 points to 65,503.
On the Sensex, gains were led by Titan, NTPC, SBI, Tata Steel, M&M, Maruti, and Bajaj Finserv; Adani Ports and Adani Enterprises led advances on the Nifty.
On the other hand, the top frontline drags were ITC, Nestle, HUL, Ultratech Cement, Tata Motors, Cipla, and Eicher Motors.
When compared to quiet benchmarks, the wider markets remained rather strong. The BSE SmallCap and MidCap indexes increased by up as 0.45%.
World cues
Following losses on Wall Street, Tokyo equities began lower on Thursday as US Treasury bond rates rose to multi-year highs.The larger Topix index dropped 0.37 percent, or 8.33 points, to 2,252.51, while the benchmark Nikkei 225 index down 0.46 percent, or 144.84 points, to 31,621.98.
After the Federal Reserve’s minutes revealed that bank officials were split over the necessity for more interest rate increases at their most recent meeting, Wall Street closed the day down on Wednesday.
Early on Thursday, oil prices declined, extending losses to a fourth straight session as concerns over China’s slowing development and potential future U.S. interest rate rises weakened demand for fuel in the two largest economies in the world. At 00:38 GMT, WTI was down 39 cents, or 0.49%, to $78.99 per barrel, while Brent oil futures down 37 cents, or 0.44%, to $83.08 per barrel.
