
Indian equity markets remained in mixed sentiments today following the budget announcement, giving no particular edge to the Indian Currency.
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Indian equity markets remained in mixed sentiments today following the budget announcement, giving no particular edge to the Indian Currency.
BSE Sensex was seen at 58,760.62 points up by 746.65 points or 1.29%, against the previous closing of 58.014.17 points.
Domestic equities are looking forward to the Union Budget announcement giving a positive outlook in today’s trade.
Domestic traders’ angst a further rise in interest rate would be faster than what was anticipated.
Domestic traders anticipate a further increase in rates by a noticeable quantum than was expected earlier, while some also feel that rates may be increased up to 50 basis points as the Fed Reserve is keen to cope with the rising inflation in the US economy.
International oil prices have surged considerably lately, reaching their highest levels over 7-years due to rising concerns over the global economic impact of new covid variant Omicron distress.
The dollar index gaining strength against the weak Indian currency got a lift on rate hike expectations, said Reliance Securities in its research note.