Opening Bell – Nifty opens above 9600, Sensex rises over 65 points
Wipro is the top Nifty gainer and Bank of Baroda is the top Nifty loser in the morning hours.
There are 692 advances, 642 declines and 480 unchanged stocks on NSE reflecting some positive bias floating in the market.
The rupee opened at 64.27 per US dollar higher by 3 paise on Thursday. The rupee closed at 64.30 on Wednesday.
Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, Nifty50 needs to sustain above the level to witness up-move towards the levels of 9,700-9,740.
The US stocks closed mixed on Wednesday after Fed hiked rates. The Dow Jones Industrial Average closed up 46 points at a record 21,375. The S&P 500 declined 2 points to finish at 2,438. The Nasdaq Composite Index slipped 25 points to close at 6,195. The US Federal Reserve hiked the Fed rate by 25 basis points along expected lines. The enhanced rate now stands in the range of 1-1.25%. Fed has also guided on one more rate hike this year.
Most Asian stocks have declined in early trade on Thursday. Japan’s Nikkei 225 has been trading with loss of 105 points; Hong Kong’s Hang Seng has lost 239 points, while China’s Shanghai Composite has shed 8 points.