Morning after fed rate hike markets may open positive
Chirag Gothi / 17 Dec 2015
Asian stocks rose on Thursday taking cues from a positive finish in Wall Street overnight after a hike in U.S. interest rates by 0.25bps and also signaled a gradual pace for future increases. A SGX Nifty 50 index future for December Series was up 28 points at 7,788. Indian market may open higher following world market.
Indian equities markets extended its winning streak to the third day on Wednesday led by rally in front line blue chip stocks. Investors keenly wait for the Federal Reserve to announce its decision on raising interest rates which will be announced later today. The Sensex was up 173.93 points or 0.69 % at 25494.37 and the Nifty was up 50 points or 0.65% at 7750.90. The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.35% and 0.25% respectively.
Market also getting boost after Finance Minister Arun Jaitley said GST rate likely to be below 18% and also planning to scrap 1% additional levy on inter-state sales which was demanded by the opposition.
At global front, U.S. stock markets extending gains to a third straight session after the Federal Reserve to end era of near-zero interest rates after a seven years and increased its benchmark rate by 25 basis points and also signaled a gradual pace for future increases. The Dow Jones Industrial Average rose Wednesday by 224 points, or 1.28%, to 17,749. The S&P 500 index advanced 29.66 points, or 1.45%, to 2,073. The Nasdaq composite gained 75.77 points, or 1.52% to 5,009.
European stock markets closed higher ahead of Fed decision. The Stoxx Europe 600 index tacked on 0.2% to end at 360.43. Germany’s DAX 30 index gained 0.2% to end at 10,469.26, while France’s CAC 40 index also added 0.2% to finish at 4,624.67. The U.K.’s FTSE 100 index climbed 0.7% to close at 6,061.19.
Yesterday, Brent crude settled at USD 37.19 a barrel, down 3.3% and in sight of Monday’s seven-year low of USD 36.33. WTI was 4.6% lower at USD 35.64.
Asian stocks rose on Thursday taking cues from a positive finish in Wall Street overnight after a hike in U.S. interest rates and also signaled a gradual pace for future increases. Japan's Nikkei 225 added 2.3%, Australian stocks climbed 1.95%, while Shanghai put on 1.76%. In South Korea, the Kospi was up 6.7 points, or 0.34%, at 1,976.
A SGX Nifty 50 index future for December Series was up 28 points at 7,788. Indian market may open higher following world market.
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