Wednesday, 16 December 2015

Nifty ends above 7750 | Stock Market Closing Outlook

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Equity benchmarks closed higher for third consecutive session ahead of outcome of the Federal Reserve's meeting tonight. Investors largely expect the Fed to hike rates by 25 basis points. Global markets also gained. 

The 30-share BSE Sensex rose 173.93 points to 25494.37 and the 50-share NSE Nifty climbed 50 points or 0.65 percent to 7750.90. The BSE Midcap and Smallcap indices underperformed benchmarks, up 0.2-0.4 percent. 

The market breadth was marginally in favour of advances in ratio of 1416:1273 on the Bombay Stock Exchange. 

Banking & financials, oil, pharma and select technology stocks supported market. 

Bharti Airtel, ONGC and Cairn India topped buying list on Sensex, up 4 percent. ICICI Bank, Lupin, GAIL, Power Grid and Idea Cellular were up 1.5-3 percent while M&M plunged 5.43 percent.

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