Sensex, Nifty50 opens flat as US Federal Reserves pauses hike

The Indian stock markets opened up flat on Thursday as trading began at 9:15 AM IST. One of the major reasons for this flat opening is the announcement by the United States Federal Reserve to cap its interest rates and kept them unchanged but it has also indicated that there might be two small hikes in the potential future in 2023.

BSE Sensex opened up at 119 points or 0.19% lower at 63,109 whereas Nifty50 graphs witnessed a decline of 26 points or 0.14% at 18,729.

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After 2 straight days of consideration, the Federal Open Market Committee or FOMC declared the policy rates to remain unchanged at the 5% to 5.25% range.

Post this announcement the Indian Stock Market opened up in red today and was dragged by Information Technology firms and Bank stocks.

The federal committee now expects the funds rates to be close to 5.6% by the end of this year and speculate it to be close to 4.6% by end of 2024. this would have a slightly negative impact on the global markets in the upcoming times.

Today Indian Rupees also suffered a blow of 14 paise against $82.19 in the early trades. The oil prices have also fluctuated in decline post the pause of rates.