Opening Bell: Markets react positively to the Fed comments

Consumer durables, IT, and Realty stocks gain in early morning deals! 

On Thursday morning, the benchmark equity indices were trading higher as the Asian Pacific markets rose slightly while investors around the world are reacting to Fed’s comments. 

The US central bank has indicated to adopt a more restrictive stance if the inflation levels do not ease. It also revealed a 50 to 75 basis points hike in the upcoming monetary policy meeting. 

The US equity indices S&P 500 and Nasdaq were also trading marginally higher as the markets digested the Fed’s minutes. 

In the early morning deals on July 7, the Sensex is at 54,00.88, up by 309.91 points or 0.58%, whereas the Nifty 50 has crossed the 16,000 mark and is trading at 16,084.25, up by 94.45 points or 0.62%, since the last trading session. Nifty Bank was also up, by 0.84% and trading at 34,612.40, and Nifty IT index was also surging with good gains. BSE Midcap was trading at 22,510.95, up by 0.74% and BSE Smallcap was at 25,496.15, up by 1.02%. 

 This morning, the top gainers on the frontline indices were Titan Company, Asian Paints, TPC, Wipro, Power Grid Corporation of India, and BPCL. Whereas, the top losers were Bajaj Finserv, Reliance Industries, Bajaj Finance, Cipla, SBI Life Insurance, and Bharti Airtel. 

On the BSE, 2,090 shares have advanced, 626 shares have declined and 104 shares are unchanged. Also, 117 stocks have hit their upper circuit and 89 stocks have hit their lower circuit. 

The top trending stocks on BSE, this morning are Reliance Industries, Siemens, Zomato, Bluedart Express, Mahindra & Mahindra, Sobha, and Responsive Industries. 

On the sectoral front, Consumer Durables sectors were up b 2%, followed by Realt, IT, PSU Bank and oil & Gas sectors. Overall the sectors were trading in the green territory.