Indian stock indices advance following US Federal Reserve's rate decision

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Indian stock indices advance following US Federal Reserve's rate decision
Credit: © Reuters.

Following the US Federal Reserve's decision to hold interest rates steady, India's benchmark stock indices, the S&P BSE Sensex and the NSE Nifty 50 , advanced today. The gains were particularly noticeable in the realty and healthcare sectors.

Concurrently, WTI Oil prices fell below $81 a barrel today as the Federal Reserve hinted at future rate hikes. This anticipation led to rallies in Asian stock markets and the Nasdaq 100 benchmark, primarily driven by tech firms. The S&P 500 also saw an increase, rising by 1.1%, while U.S equity futures edged higher.

Major contributors to the Nifty's change included Reliance Industries Ltd., Infosys (NS: INFY ) Ltd., Tata Consultancy Services (NS: TCS ) Ltd., Kotak Mahindra Bank Ltd., and Adani Enterprises Ltd. On the other hand, Hero MotoCorp., Bajaj Auto Ltd., Tata Steel Ltd., Bajaj Finserv Ltd., and Hindustan Unilever (LON: ULVR ) Ltd negatively influenced this change.

In sectoral indices, the BSE Midcap fell by 0.97%, while the BSE Smallcap rose by 0.78%. Significant advancements were observed in the BSE Realty and Telecommunication sectors.

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