Nifty, Sensex open with cautious stance ahead of Federal Reserve meeting, experts say year-end rally may gain momentum this week

Mumbai [India]: Indian stock markets started the new week on a cautious note on Monday as both the indices declined marginally during the early session. The US Federal Reserve meeting is set to begin on Tuesday and markets around the world are expecting a rate cut of 25 basis points.

The Nifty 50 index opened 14.90 points or 0.06 per cent lower at 24,753.40, while the BSE Sensex opened 132.81 points or 0.16 per cent lower at 82,000.31.

Experts said Indian markets will keep an eye on Fed rate cut this week. Expectations for a 25 bps cut are very high. The market is likely to remain in a consolidation phase, but the year-end rally may gain momentum this week.

Banking and markets expert Ajay Bagga told ANI, “This will be a week dominated by the US Fed’s last FOMC meeting of the year. A rate cut of 25 basis points is almost certain. Closely watching the comments for clues on this.” Will be kept.” The pace of Fed rate cuts in 2025. January 2025 will bring President Trump’s policies into focus. Indian markets saw a sharp intraday bounce on Friday after a week of strong Fed policy week. “In the Fed policy week, we may see steady market action, but we expect a year-end rally this week.”

Among the sectoral indices on the National Stock Exchange, Nifty FMCG, Nifty Media, Nifty Metal, Nifty Pharma, Nifty PSU Bank and Nifty Realty showed a mixed trend, while other sectors including Nifty Bank and Nifty Auto declined. Time to file this report.

At the time of filing this report, 19 stocks in the Nifty 50 list advanced while 30 declined. Top gainers in Nifty 50 include ITC, Cipla, L&T, Reliance and Adani Enterprises, while top losers include BPCL, JSW Steel and Tech Mahindra.

“This objective remains valid as long as the market remains above 23,873, but the more important support now is Friday’s low of 24,180. Seasonal patterns also support the bullish outlook, as Nifty is up 80% in the second fortnight of December. has increased over the last decade, with an average gain of 1.1,” said Akshay Chinchalkar, head of research at Axis Securities.

In other Asian markets, mixed trends were visible, with Nikkei 225 Index, Taiwan Weighted Index and South Korea’s KOSPI Index rising marginally, while Hang Seng Index and Jakarta Composite declined at the time of filing this report.

This article was generated from an automated news agency feed without any modifications to the text.