Sensex Today live: Stock Market Today LIVE Updates: RIL, Bajaj twins propel Sensex 150 points higher; Nifty above 17,150; all sectoral indices trade in the green
Blackstone sweetens delisting offer for R Systems International
Private equity major Blackstone on Wednesday sweetened the delisting offer price to be offered to public shareholders of IT services firm R Systems International, increasing the offer price to Rs 262 per share from Rs 246 earlier, the company said in a stock exchange filing. At 11.43 am, shares of R Systems were trading at Rs 258.25 apiece, up 1.25% on the BSE.
Tokyo stocks close higher
Tokyo stocks closed higher on Wednesday following rallies on Wall Street, where assurances from officials eased investor concerns over financial instability. The benchmark Nikkei 225 index gained 1.93 percent, or 520.94 points, to 27,466.61, while the broader Topix index ended up 1.74 percent, or 33.63 points, at 1,962.93.
Today’s Fed decision will be crucial in determining the direction of the market. The most likely outcome will be a 25bp hike in rates along with assurances of financial stability. Since inflation continues to be high and unemployment is at record lows the Fed has to keep its vigil on price stability. If the Fed decision is a pause, there will be a strong rally in markets. An important market trend is the steady decline in the volatility index CBOE VIX in recent days from 26 to around 21 now. This means there is no fear in the market unlike during the Global Financial Crisis of 2008. Investors should remain cautious and wait for stability to emerge. Safety is in large caps. Long-term investors can nibble at high quality large caps.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
SGX Nifty50 signals a flat start
Nifty futures on the Singapore Exchange traded 40 points or 0.23% higherat 17,184.50, signalling a positive start for Dalal Street on Wednesday.
Asian equities rally in risk-on trade
- Japan’s Topix rose 1.8%
- Australia’s S&P/ASX 200 rose 0.9%
- Hong Kong’s Hang Seng rose 1.4%
- The Shanghai Composite rose 0.3%
Wall Street ends in green
- Dow Jones Industrial Average 0.98%
- S&P 500 gained 1.30%
- Nasdaq Composite added 1.58%
Dollar subdued ahead of Fed decision
- Euro was little changed at $1.0770
- Japanese yen was little changed at 132.55 per dollar
- Offshore yuan was little changed at 6.8780 per dollar
Oil prices ease
Oil prices eased a touch in early trade, having rallied 2% overnight. Brent dipped 22 cents to $75.12 a barrel, while US crude fell 27 cents to $69.40.
Foreign portfolio investors (FPIs) have net sold shares worth Rs 1,454 crore on Tuesday. DIIs, on the other hand, bought shares worth Rs 1,946 crore.
The rupee fell 10 paise to 82.66 against the US dollar on Tuesday amid a rise in crude oil prices and unabated foreign fund outflows from the domestic equity market.
Sensex, Nifty gained on Tuesday after 1-day gap
The 30-share BSE benchmark Sensex surged 446 points or 0.77% to settle at 58,074. The broader NSE Nifty rose 119 points or 0.70% to end at 17,107.
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