Stock Market Highlights: Sensex ends 33 pts higher, Nifty50 at 16,683 as market nearly all of day’s gains

Stock Market Highlights

: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a choppy session barely in the green on Thursday, even as the Fed’s move to hike the key interest rate by an expected 50 bps soothed the nerves of global investors. Fed Chairman Jerome Powell ruled out a more aggressive tightening of policy going forward, boosting sentiment. Gains in IT, metal and auto stocks were offset by losses in FMCG, pharma and select financial names. Broader markets were a mixed bag, with the Nifty Midcap 100 edging up 0.1 percent but the Nifty Smallcap 100 declining 0.8 percent. On Wednesday, an out-of-cycle rate hike of 40 bps by the RBI along with an increase in the cash reserve ratio had caught Dalal Street by surprise, turning the bulls nervous.

First Published: May 05, 2022, 07:46 AM IST