Nifty Tops 19,800 Ahead of Fed Outcome, India VIX Jumps 6%
By Malvika Gurung
Investing.com — Major Indian indices made a positive opening on Wednesday amid mixed cues from global markets and ahead of the Federal Reserve’s monetary policy decision later in the day.
At 12:30 pm, benchmark indices Nifty rose 0.68% to 19,814.2 points and the 30-scrip Sensex surged 0.71% or 471.1 points. The Indian market volatility barometer India VIX jumped 6% to 10.86 levels on Wednesday.
Behemoths including Larsen & Toubro (NS:LART), Reliance Industries (NS:RELI), ITC (NS:ITC) and Adani Ports (NS:APSE) led the support in the Indian market, pushing both the headlines higher, also outperforming its Asian peers ahead of the Fed’s two-day July monetary policy meeting decision.
Read Also: L&T Jumps 4%: Nifty, Sensex Top Gainer on Stellar Q1 Earnings, Strong Outlook
The 30-scrip Sensex snapped a three-day losing run on Wednesday, with most stocks seen trading in the green. The index has zoomed 6.14% over the past month, while Nifty50 is up 6% in this period.
Barring Nifty Consumer Durables, all the sectoral indices listed under the Nifty umbrella traded in the green, led by an over 1% jump in Nifty PSU Bank, followed by Nifty FMCG. Nifty Bank traded 0.23% higher.
The automaker giant M&M (NS:MAHM) led the losses on the Nifty pack, along with heavyweights including SBI Life (NS:SBIL) and Titan (NS:TITN).
Investors globally await the US Fed’s interest rate hike announcement scheduled for later today, followed by Fed Chair Jerome Powell’s press conference.
Read more on investing.com
