Nifty’s Opening Cues Following US Fed Decision and Hawkish Projection

By Malvika Gurung

Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.1% or 19.5 points lower at 8:58 am on Thursday, indicating a marginally lower to flat opening on Dalal Street. 

Further, the and traded flat.

Major US indices ended mixed on Wednesday after the US Fed kept the but extended hawkish that there could be two more hikes ahead as inflation continues to run above target, likely by 0.5% by the end of 2023. 

The Federal Open Market Committee (FOMC) left the benchmark rate unchanged at 5-5.25%.

rose 0.39%, fell 0.68% and closed flat.

Asian shares were mostly up on Thursday after the Federal Reserve left the benchmark interest rate unchanged for the first time in 17 months.

At 9 am, Japan’s gained 0.34%, South Korea’s dipped 0.28%, Hong Kong’s surged 0.72%, China’s traded flat and Australia’s rose 0.26%.

Oil prices declined slightly on Thursday, as major importer China enacted more interest rate cuts amid worsening economic conditions, while markets continued to digest mixed signals from the Fed, an Investing.com report noted.  

dipped 0.2% to $73.06/barrel and traded at $68.15 a barrel. fell 1.11%.