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Sensex ends 266 points higher on Fed's dovish comments
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SME Times News Bureau | 11 Jul, 2019
Indian equity markets edged higher on Thursday as US Federal Reserve's
dovish comments helped ease the negative sentiments owing to
disappointment over the Union Budget.
Sensex closed 266.07 points higher at 38,823.11, while the Nifty advanced by 84 point to 11,582.90.
"US
Federal Reserve Chair Jerome Powell's dovish comments on Wednesday
cemented hopes of an interest rate cut this month in the US and soft
interest rate policies across the globe," said Deepak Jasani of HDFC
Securities.
"This boosted global stocks, pulled down bond yields
and weakened the US dollar. Fears of FPI selling due to the adverse
provisions in the Union Budget has abated for the time being," Jasani
added.
InterGlobe Aviation, the parent company of Indigo, the
largest private airline in India slipped 3.07 per cent lower as
investors continued to fret over the likely hood of operations getting
affected by the conflict among its promoters.
Meanwhile, Foreign Institutional Investors (FIIs) have sold Rs 1,768 crore, in 5 sessions, since the Budget proposal on July 5.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
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84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 14 Jul, 2020 |
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