Finance
Today’s Stock Market News | Sensex, Nifty, and Share Prices Highlights: Domestic equity indices BSE Sensex and NSE Nifty finish slightly higher on the back of positive global cues. The Sensex gained over 100 points, closing at 62,677, while the Nifty gained 0.28%, closing at 18,660. For the second consecutive session, the Bank Nifty hit a new intraday high, breaking through the 44,100 level and finishing 100 points higher. Nifty IT recovered some of its losses, finishing over 1% higher.
Following four consecutive 75-basis-point hikes, the market expects Fed Chair Jerome Powell to slow the pace of hikes to 50 basis points as inflation begins to moderate. The outcome of the Federal Open Market Committee’s (FOMC) final two-day meeting of 2022 would be known this midnight. “Any upside surprises to the November US CPI inflation print, due just before the FOMC, would trigger a more hawkish bias to the Fed Chairs’ statement in the press conference. The robust labour market and other activity indicators continue to point towards a possibility of a higher terminal Fed rate in the coming FOMC,” Kotak Mahindra Bank said in a note.
Source:FE
