Meanwhile, the Indian stock market was seen in recovery mode shortly after opening. Weakness in bank stocks pulled the market down. The 1 percent decline seen in the US market has led global markets to fall.
How did the market open today?
Earlier today, the BSE 30-share index Sensex opened down 215.60 points, or 0.36 percent, at 59,504. Besides, NSE’s 50-share index Nifty was seen down 49.90 points or 0.28 per cent at 17,766 in early trade. Sensex and Nifty are seen in green at 9.30 am. Nifty is seen rising 4 points to 17,820 and Sensex is trading up 18 points to 59,738. Nifty has crossed the 17,800 level once again.
The Hindustan Liver was the highest gainer at around 1.5 percent. Hero Moto Co., Hindustan Unilever, M&M, Britannia and Nestle India emerged as the most promising companies on the Nifty. 18 out of 30 Sensex gainers are selling today. If we look at the growing stocks, there are Nestlé, HUL, Maruti, Tata Steel, Dr Reddy’s Labs and M&M. This shows an increase of 1.37 percent to 0.60 percent.
Market pressures ahead of Fed policy
The impact of Fed policy was seen on the US market on Wednesday and pressure on the US market was seen on Tuesday. The Dow Jones fell 313 points to close at 30,706, while the Nasdaq fell 110 points with the SGX Nifty also trading near 17,750 with a break of 50 points. However, ahead of the Fed policy meeting on Tuesday, the Indian stock market witnessed a bullish trend.