Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Indian shares set to open lower ahead of Fed rate hike decision

09/20/2022 | 10:37pm EST
A man looks at a screen displaying budget news, on a facade of the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU (Reuters) - Indian shares are expected to open slightly lower on Wednesday, after two straight sessions of gains, as investors brace for a hefty rate hike from the U.S. Federal Reserve and clues on further hikes.

India's NSE stock futures listed on the Singapore exchange were down 0.4%, as of 0229 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 1%.

The NSE Nifty 50 index rose 1.1% to 17,816.25 on Tuesday, while the S&P BSE Sensex ended up 0.98% at 59,719.74.

Foreign investors bought a net $91.9 million worth of Indian equities on Tuesday, Refinitiv data showed.

The Fed is set to announce its decision at the end of a two-day policy meeting later in the day. Rate futures traders are pricing in an 81% chance of a 75-basis-point hike and a 19% probability of a jumbo 100 bps increase. [FEDWATCH]

Stocks to watch:

** The Reserve Bank of India on Tuesday said it took Central Bank of India, a state-owned commercial bank, off its prompt corrective action list after it was found that the bank was not in breach of certain regulations.

** Yes Bank on Tuesday said it approved investment of up to 19.99% stake in JC Flowers Arc by bank

** Indian automaker Mahindra and Mahindra proposes to buy a 17.41% stake of Swaraj Engines from Kirloskar Industries.

** NBCC (India) on Tuesday said it secured total business of 2.75 billion rupees in August.

** Bike maker Hero MotoCorp said on Tuesday it would partner with state-run Hindustan Petroleum Corp to set up electric vehicle (EV) charging infrastructure across the country.

** Indian budget carrier SpiceJet has decided to put around 80 pilots on leave without pay for a period of three months in a move to cut costs, Mint newspaper reported.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.74% 0.67754 Delayed Quote.-7.75%
BANK OF INDIA LIMITED 7.97% 100.25 End-of-day quote.95.23%
BRITISH POUND / US DOLLAR (GBP/USD) 0.20% 1.22331 Delayed Quote.-10.33%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.43% 0.73552 Delayed Quote.-7.38%
CENTRAL BANK OF INDIA 12.26% 31.6 End-of-day quote.48.71%
EURO / US DOLLAR (EUR/USD) 0.42% 1.05565 Delayed Quote.-7.95%
HERO MOTOCORP LIMITED -0.11% 2757.5 End-of-day quote.12.03%
HINDUSTAN PETROLEUM CORPORATION LIMITED 1.14% 235.2 Delayed Quote.-20.45%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.05% 0.012153 Delayed Quote.-9.65%
MAHINDRA AND MAHINDRA LTD 0.61% 1274.35 Delayed Quote.51.30%
MSCI SINGAPORE (GDTR) 0.76% 5627.79 Real-time Quote.-9.94%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.39% 0.63772 Delayed Quote.-7.50%
NIFTY 50 0.26% 18609.35 Delayed Quote.6.95%
SENSEX BSE30 0.26% 62570.68 Real-time Quote.7.14%
SPICEJET LIMITED -1.58% 40.6 End-of-day quote.-40.38%
YES BANK LIMITED 1.72% 17.75 Delayed Quote.27.37%
Latest news "Economy"
05:57pBritain to lay out financial reforms to 'turbocharge' growth
RE
05:56pExplainer-What happens to Peru's former president Castillo now?
RE
05:56pU.S. SEC issues new guidance on disclosing crypto risks
RE
05:52pConsumer Cos Up Amid Mixed Holiday Sales Picture -- Consumer Roundup
DJ
05:52pUtilities Up as Sector Enters Green for Year-to-Date -- Utilities Roundup
DJ
05:52pCommunications Services Flat on Streaming Doubts -- Communications Services Roundup
DJ
05:52pTech Rises, Recouping Some Recent Losses -- Tech Roundup
DJ
05:51pUkrainians return to former frontline village
RE
05:49pBroadcom CEO - Expect Networking Revenue To Grow 20% Y-O-Y In Q1
RE
05:49pBroadcom ceo says china, which represents less than 10% of total…
RE
Latest news "Economy"