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Live: Nifty hits record high, Sensex at two-year peak after Fed rate hike

LiveMint logoLiveMint 16-03-2017 Livemint

India’s Nifty 50 Index hits a fresh record high of 9,143 points, up 0.65% or 56.60, while the benchmark Sensex index hit a fresh two-year high to 29,583.45, up 0.7% or 194.37 points, after the US Federal Reserve raised interest rates without accelerating its timeline for future tightening.

The Fed raised interest rates by 25 basis points and continued to project two more increases this year, signalling more vigilance as inflation approaches its target. “The recent US rate hikes could mark the beginning of a significant shift in the global interest rate environment, with benchmark US policy rates settling higher over the long term than current market expectations,” according to Fitch rating.

9.30am: HCL Technologies Ltd shares rise 2% to Rs856.95 after the company said its board to meet on 20 March to consider buy-back of shares.

9.28am: BSE Sensex trades higher by 193 points, or 0.66%, to 29,592, while the Nifty 50 rises 57 points, or 0.62%, to 9,141.

9.15am: The rupee opened at 65.39 a dollar and touched a high of 65.24, a level last seen on 30 October 2015. At 9.15am, the home currency was trading at 65.25, up 0.65% from its previous close of 65.82.

9.10am: The 10-year bond yield was trading at 6.773%, a level last seen on 2 February, compared to its Wednesday’s close of 6.827%. Bond yields and prices move in opposite directions.

9.00am: Among Asian currencies, South Korean won was up 0.1%, Taiwan dollar 0.47%, China renminbi 0.29%, Malaysian ringgit 0.24%, Philippines peso 0.22% and Indonesian rupiah 0.22%. However, China offshore was down 0.36%, Singapore dollar 0.26% and Thai baht 0.09%.

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