Benchmark Indices Open in Green Amidst Mixed Global Cues After US Fed Decided to Hold Rates

The Sensex edged up by 0.05 per cent to 76,570.93, while the Nifty 50 gained 0.15 per cent, reaching 23,198.90.

Market Update at 9:30 AM: Indian equity markets began the session on a positive note, amidst mixed global cues after the US Federal Reserve decided to hold interest rates amid concerns over trade policy and inflation. The Sensex edged up by 0.05 per cent to 76,570.93, while the Nifty 50 gained 0.15 per cent, reaching 23,198.90.

The broader market also exhibited strength, with the Nifty Midcap 150 climbing 0.77 per cent to 19,631.20, and the Nifty Smallcap 250 advancing 0.76 per cent to 15,732.05.

Meanwhile, market volatility inched higher, as reflected in the India VIX, which rose by 0.38 per cent to 18.71, indicating heightened uncertainty.

Among sectoral indices, Nifty Realty, Nifty Pharma, and Nifty Metal emerged as the Top Gainers, rising by 2.79 per cent, 1.07 per cent, and 1.01 per cent, respectively. Conversely, Nifty Consumer Durables, Nifty Auto, and Nifty IT were the worst-performing sectors, declining by 1.49 per cent, 0.67 per cent, and 0.19 per cent, respectively.

Within the Nifty 50 index, Bajaj Finance, Bajaj Finserv, and Hindalco led the gainers, advancing by 4.62 per cent, 3.11 per cent, and 2.26 per cent, respectively. On the other hand, Tata Motors, Infosys, and ICICI Bank were the top laggards, slipping by 8.05 per cent, 0.72 per cent, and 0.56 per cent, respectively.

Market breadth remained positive, with 1,661 stocks advancing against 687 stocks declining, indicating broad-based buying interest.

Market Update 8:15 AM: U.S. stocks closed lower on Wednesday after the Federal Reserve decided to keep interest rates unchanged. Dow Jones Industrial Average declined by 136.83 points (0.31 per cent) to settle at 44,713.52. The S&P 500 lost 28.39 points (0.47 per cent) to finish at 6,039.31, while the Nasdaq Composite fell by 101.26 points (0.51 per cent) to 19,632.32.

Asian equities faced challenges on Thursday, struggling to sustain momentum as investors assessed the Federal Reserve’s rate decision along with earnings reports from key U.S. technology firms.

The GIFT Nifty indicates a subdued opening for Indian markets, with Nifty futures trading at 23,146.00 as of 7:00 AM IST.

The Indian stock market extended its gains for a second straight session on January 29, with the Nifty climbing above 23,150, buoyed by positive global cues ahead of the Fed’s rate announcement. By market close, the Sensex had surged 631.55 points (0.83 per cent) to 76,532.96, while the Nifty advanced 205.85 points (0.90 per cent) to settle at 23,163.10.

U.S. Treasury yields edged higher, with the 10-year yield rising 18 basis points to 4.53 per cent and the 2-year yield climbing 10 basis points to 4.21 per cent in early Thursday trade.

The dollar index was trading at 107.85, as traders awaited signals from the European Central Bank regarding its rate stance, following the Federal Reserve’s decision to hold off on easing measures.

WTI crude oil futures hovered around USD 72.8 per barrel on Thursday, attempting to rebound after a more than 1 per cent decline in the previous session. Investors are closely watching developments on U.S. trade policies, as Trump’s commerce secretary nominee suggested that Canada and Mexico might be exempt from the impending tariffs set to take effect on February 1.

On January 29, Foreign Institutional Investors (FIIs) continued their selling spree for the 19th consecutive session, offloading Indian equities worth Rs 2,586 crore. Meanwhile, Domestic Institutional Investors (DIIs) provided some relief by purchasing equities worth Rs 1,792.71 crore.

No stocks are under the F&O ban today.

Disclaimer: The article is for informational purposes only and not investment advice.