Positive start for indices, happy listing for Ujjivan Small Finance Bank

In the last trading session, the bulls made a strong come back in the last hour of the session and, if we go by the early trend on SGX Nifty, it indicated that the bulls are likely to carry the positive baton from last trading session. Helping the cause of the bulls is firm global cues, as the US Fed kept its rate steady and signaled it would keep them on hold through 2020. The SGX Nifty is up by almost half a per cent and trading at 11,998 mark. The recent conclude IPO of Ujjivan Small Finance Bank is set to make its debut on the exchanges today and a happy listing lay in store for Ujjivan Small Finance Bank, which has witnessed considerable excitement among investors for its IPO. Furthermore, market participants will also watch out developments in the UK, as it will go to the polls. On the domestic front, the release of India’s IIP and inflation data, later in the day, will also garner significant attention.
 
On Thursday, most of the Asian markets are trending higher on the back of the positive close on Wall Street after the US Federal Reserve kept its rate steady and signals no change in 2020. Hong Kong’s Hang Seng is up more than a per cent and Japan’s Nikkei 225 is up by 0.23 per cent. Meanwhile, China’s Shanghai Composite is trading flat.
 
Back home, after a volatile day, the key Indian stock market indices ended the day on a positive note, courtesy the last hour buying. The Nifty closed above 11,900 mark, up by 0.45 per cent, and the BSE Sensex rose 0.43 per cent to close at 40,413. The action was mixed in the broader market, with Nifty Midcap adding 0.75 per cent while Nifty Smallcap losing 0.21 per cent. Talking about the sectoral performance, barring Nifty Metal and Nifty PSU Bank, all other indices witnessed buying interest, with Nifty IT and Nifty Realty becoming the top gainers.
 
As for global happenings, the US markets reacted positively to the conclusion of the December Fed policy meeting, leaving stocks modestly higher. As widely expected, the Federal Reserve kept interest rates unchanged. In the end, the Dow added 30 points, the S&P 500 rose 9 points, and the NASDAQ jumped 38 points. The European markets, too, ended the session in the green but the gains were kept in check, as market participants were cautious ahead of the European Central Bank monetary policy decision. Also, voters in the UK head to polls on Thursday for a crucial election that could determine the country’s future.