Stock Market LIVE Updates: Sensex, Nifty50 likely to open higher after Fed's expected rate hike

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Stock Market LIVE Updates

: Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open stronger on Thursday in a rebound after sharp losses in the previous session, after the Fed hiked the key interest rate by 50 basis points as expected and ruled out more aggressive tightening of policy going forward. At 7:40 am, Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — were up 152 points or 0.9 percent at 16,841. On Wednesday, an out-of-cycle rate hike of 40 bps by the RBI along with an increase in the cash reserve ratio had caught Dalal Street by surprise, turning the bulls nervous.

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First Published: May 05, 2022, 07:46 AM IST