Investors remained cautious ahead of exit polls after the second phase of Gujarat elections today.
Equity benchmarks continued to be choppy in trade today as investors eagerly awaited exit polls results later today after the end of the second phase of Gujarat Assembly elections. The rate hike by Federal Reserve, which was on expected lines, was largely priced in by the market.
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The 30-share BSE Sensex was up 13.08 points at 33,066.12 and the 50-share NSE Nifty rose 9.60 points to 10,202.60.
The gap between advances and declines narrowed. About 1,006 shares advanced against 918 declining shares on the BSE, against 5:1 in early trade.
Oberoi Realty was up 5 percent. Motilal Oswal has initiated coverage with a buy rating on the stock as it expects the company to be a key beneficiary of the likely consolidation post RERA.
The Rupee looked strong today with a gain of 13 paise at 64.31 against the Dollar even as the Federal Reserve raised interest rates by a quarter percentage point.
In her final act as the Fed chair, Janet Yellen moved to hike rates to a range of 1.25 percent to 1.5 percent, citing solid US job growth and household spending. The central bank kept its policy outlook on additional increases for 2018 and 2019 unchanged.
Yesterday, the rupee had lost 4 paise at 64.44 against the American currency ahead of the US Fed’s rate call.
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