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Tuesday, May 28, 2024

Markets rebound in initial trade; US Federal’s decision on rate expected

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Mumbai: Reflecting a positive trend in the Asian bourses ahead of US Federal Reserve’s rate decision, the Indian stock markets opened in green with a recovery of 191 points in the BSE Sensex at 72,203.39 on Wednesday.

The opening session witnessed buying in IT, Energy and Banking stock which led to a recovery in the market from yesterday’s fall of over 730 points.

In line with the BSE, the Nifty index also moved up nearly 31 points to 21848.35 in the first 15 minutes of the opening session.

The US Federal’s decision on rate is expected during the day, which may give direction to the markets.

In the initial trade, the major gainers were Maruti Suzuki, Nestle India, Powergrid, and Bajaj Finance. The losers were Tata Steel, Tata Motors, JSW Steel, and NTPC.

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