On Thursday, the Indian stock market opened with little change. This followed quiet movements in Asian markets after the US Federal Reserve decided to leave interest rates the same and didn’t give much information about possible changes for this year.
Bajaj Finance had a good day, but Tata Motors struggled after sharing disappointing results for their third quarter. The BSE Sensex was down by 7 points, which is about 0.01%, at 76,514, while the Nifty50 was slightly up by 2 points, also about 0.01%, at 23,165 around 9:18 AM.
In the US, stock prices fell on the previous day, and Asian markets remained calm after the Federal Reserve’s decision. Fed Chair Jerome Powell mentioned there won’t be a rush to cut rates rapidly; they need to wait for better data on inflation and jobs.
Markets are now predicting that the Fed might lower interest rates by around 0.50% before the year ends.
Within the Sensex stocks, Bajaj Finance, Bajaj Finserv, NTPC, IndusInd Bank, and Power Grid saw increases, while Tata Motors, Infosys, ICICI Bank, and UltraTech Cement faced declines. Bajaj Finance jumped over 4% after its profit rose by 17% compared to last year, reaching Rs 4,247 crore, which was better than expected. In contrast, Tata Motors’ shares fell by 9% after its profit dropped by 22% to Rs 5,451 crore, missing forecasts which expected Rs 6,791 crore.
Stay tuned for more updates!
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