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Late rebound helps Sensex gain 131 pts ahead of Fed meet outcome

Discussion in 'Stock Market News & Analysis' started by chetanepic, Mar 16, 2016.

  1. chetanepic

    chetanepic New Member

    Jan 9, 2016
    Likes Received:
    Intraday Trader
    The market bounced back in last hour of trade with the Nifty reclaiming 7500 intraday Wednesday ahead of outcome of Federal Reserve's two-day meeting due tonight. Private banks, FMCG and select technology stocks helped the market rebound. The 30-share BSE Sensex rose 131.31 points to 24682.48 and the 50-share NSE Nifty climbed 38.15 points to 7498.75 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices fell 0.4 percent and 0.2 percent, respectively.

    Globally markets were mixed as markets await the latest interest rate decision from the US Federal Reserve's monetary policy committee. In Europe, Germany's DAX gained 0.3 percent while Britain's FTSE and France's CAC wiped out gains to trade flat (at 16 hours IST). In Asia, Nikkei lost 0.8 percent while Shanghai gained 0.2 percent.

    The market breadth remained weak as about 1405 shares declined against 1160 advancing shares on the Bombay Stock Exchange.

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