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Sensex and Nifty today: In response to the fact that the Federal Reserve of the United States did not alter its stance on monetary policy, the Indian stock market stayed tranquil today. Both the Sensex and the Nifty finished the day with minor gains on Thursday, May 2.
The Sensex finished the day with a gain of 128 points, which is equivalent to 0.17 percent, at 74,611.11, while the Nifty finished the day with a gain of 43 points, which is equivalent to 0.19 percent.
The federal funds rate was maintained at 5.25 percent to 5.50 percent by the Federal Reserve of the United States on Wednesday, marking the sixth straight day that the rate has remained unchanged. However, the outcome of the policy did not have a big influence on the stock market because it was in accordance with the expectations of the market.
In order to preserve the status quo regarding interest rates, the Federal Reserve is avoiding issuing unambiguous signals regarding rate reductions while simultaneously rejecting the likelihood of a rate raise in the near future.
After beginning the day with a decrease of 91 points at 74,391.73, the Sensex continued to trade in the green for the most of the day, progressing as much as 330 points during the intraday session to reach the highest point of the day at 74,812.43. Despite this, the index ended the day somewhat higher than it had started.
The Nifty 50 initially opened at 22,567.85, compared to its previous closing price of 22,604.85, and it reached its intraday high of 22,710.50 while the session was in progress. The Nifty 50 index had a total of 29 equities that finished in the green, while the remaining 21 stocks finished in the red.
During the course of the session, the BSE Midcap index reached a new all-time high of 42,564.25. With a final value of 42,503.13, the index finished 0.91 percent higher.
Nifty Today: The BSE Smallcap index finished the day with a gain of 0.29 percent, reaching 47,451.13.
When compared to the previous session, the whole market capitalization of the companies that are listed on the BSE increased to roughly ₹408.5 lakh crore on Thursday. This is a significant increase of approximately ₹1.9 lakh crore in a single session, which is a significant increase for investors.
During the course of intraday trading on the Bombay Stock Exchange (BSE), more than 250 equities, including Mahindra & Mahindra, Power Grid, Ashok Leyland, Federal Bank, Grasim, IndiGo, IRCTC, and Tata Power, reached their most recent 52-week highs.
There is a possibility that the Federal Reserve may maintain the current level of interest rates for a longer period of time, therefore investors should concentrate more on domestic fundamentals and less on the Fed’s policy movements, according to experts.
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