Market News
2 min read | Updated on March 21, 2024, 10:32 IST
SUMMARY
Global markets rejoiced after the Federal Reserve’s decision to hold the rates unchanged for the fifth consecutive time. As a result, all major global indices posted strong rallies across the board.
NIFTY reclaims 22,000 mark
Indian markets open higher, with benchmark indices NIFTY50 and SENSEX gaining 0.6% and 0.7% respectively in line with buoyant global markets. The Asian markets are trading higher across the board after a strong rally in US markets overnight. The US markets closed higher as markets rejoiced after the Federal Reserve's outcome to hold interest rates unchanged.
The US Federal Reserve kept the interest rates unchanged at 5.5% for the fifth consecutive time in March 2024. Further, the central bank also signalled a probability of 3 rate cuts in 2024. However, the target inflation rate of 2% remains unchanged, and the road to achieving that target could be bumpy, said Federal Reserve Governor Jerome Powell.
On the broader indices front, the Midcap 100 and Smallcap 100 outperform benchmark indices in morning gains. The Midcap 100 is trading higher by 1.5% at 46,581 levels, and the NIFTY smallcap is trading at 14,813 levels, up by 1.5%
The sectoral indices opened positive on Thursday morning; NIFTY Metal and PSU Bank are leading the pack with 2% gains each. Below are key stocks that are in focus due to overnight developments
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