Indian shares eked out modest gains on Thursday, mirroring positive cues from overseas markets as a signal by the Federal Reserve that it would raise interest rates in 2022 reduced a source of uncertainty for markets.
The Fed said it would double the speed of the tapering of its bond purchasing program and projected three rate hikes in 2022, citing rising price pressures and improvement in the labor market.
The benchmark 30-share BSE Sensex ended a choppy session up 113.11 points, or 0.20 percent, at 57,901.14, snapping a four-day losing streak.
The broader NSE Nifty index settled at 17,248.40, up 27 points, or 0.16 percent, from its previous close.
Bajaj Finance rose 2.9 percent on bargain hunting after having fallen 8 percent in the previous three sessions.
Reliance Industries, Wipro, BPCL and Infosys all gained around 2 percent.
Subros surged 5.2 percent after bagging an order from Indian Railways for supply of coach air-conditioners in a recently concluded tender.
Among the prominent decliners, Bajaj Auto, ICICI Bank, Sun Pharma, Cipla and Hindalco dropped 1-2 percent.
Market Analysis
Sensex, Nifty End Modestly Higher
2021-12-16 11:19:59
