Sensex jumped more than 700 points
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New Delhi (Uttam Hindu News): BSE Sensex rose 743.95 points or 1.03 per cent to 72,845.64 in early trade on Thursday, although it came down slightly and is trading 614 points higher. NTPC, IndusInd Bank are up 3 percent. V.K., chief investment strategist at Geojit Financial Services. Vijayakumar says that the uncertainty has ended with the Fed maintaining the rates.
The Fed chief said in the statement that “inflation has largely moderated and the labor market remains strong,” he said. This indicates that rates may possibly be cut thrice this year. US indices are reaching record highs. He said that these sentiments will also have a positive impact on the Indian markets.
In the tug-of-war between foreign institutional investors (FIIs) and domestic institutional investors (DIIs) for some time now, DIIs have been winning. This trend will continue if FIIs continue selling. Therefore, FIIs may curb selling and turn into buyers. He said this would be a good thing for large caps in banking, telecom, capital goods and automobile sectors.
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