Markets end in green amid global trends

Markets end in green amid global trends
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Highlights

Sensex rises 169 pts; Nifty settles up at 11,972 mark

Mumbai: Market benchmark Sensex on Thursday rose by 169 points on the back of gains in banking and metal stocks amid positive global trends after the US Federal Reserve signalled no change in interest rates throughout next year.

After rallying over 300 points in day trade, the 30-share BSE Sensex ended 169.14 points, or 0.42 per cent, higher at 40,581.71 ahead of the release of key macro data after market close. The broader NSE Nifty settled 61.65 points or 0.52 per cent, higher at 11,971.80.

Vinod Nair, Head of Research at Geojit Financial Services said, "FED's dovish stance on future rate trajectory and strengthening rupee brings cheer to investors.

Global sentiment is likely to turn positive in expectation of delay in US tariff deadline while expecting more positive developments from US-China trade talks."

After its two-day meeting, the US Federal Reserve on Wednesday night indicated that it may not change interest rates throughout next year.

The central bank, which has cut the lending rate three times this year, said that it will set its sights on low inflation and the global economy.

Investors were also awaiting factory output data scheduled to be released later in the day, traders said. Sectorally, BSE metal, industrials, auto, bankex, capital goods and power indices rose up to 2.41 per cent.

While BSE IT, telecom and teck indices declined up to 1.53 per cent.

On the currency front, the rupee appreciated 21 paise against the US dollar to 70.63 (intra-day).

Brent futures, the global oil benchmark, rose 0.74 per cent to $64.19 per barrel. Bourses in Hong Kong, Seoul and Tokyo ended on a positive note, Shanghai slipped into the red.

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