Market indices see marginal gains amidst unchanged US Fed rates

The domestic share market indices ended marginally higher on Thursday after the US Federal Reserve kept rates unchanged. Fall in crude oil prices and strong auto sales numbers aided the sentiment on Dalal Street. The domestic markets opened after a one-day holiday on account of Maharashtra Day.At close, the Sensex was up 128.33 points or 0.17 percent at 74,611.11, and the Nifty was up 43.35 points or 0.19 percent at 22,648.20. About 1677 shares advanced, 1673 shares declined, and 82 shares unchanged.Highlights of trade: 
●Adani Ent, Dabur, Coal India Q4 earnings today,
●Nomura hikes Havells target price to Rs 1,603 from Rs 1,427,
●ICICI Bank denies reports of MD leaving company,
●Gift Nifty futures volumes soar 25% in 4 months,
●Adani Ports records 12% yoy jump in cargo volumes during April,
●Aadhar Housing Finance sets price band at Rs 300-315 for IPO,
●Adani Ports Q4 PAT surges 77% YoY to Rs 2,015 crore.
BPCL, Power Grid Corporation, Asian Paints, Bajaj Auto and Tata Motors were the top gainers on the Nifty, while losers included Kotak Mahindra Bank, Bharti Airtel, Tata Consumer, Axis Bank and HDFC Life.
On the sectoral front, auto, metal, oil & gas, power up 1 percent each, while bank and realty indices ended marginally in the red.The broader indices again outperformed the benchmarks with the BSE midcap index touched fresh high and ended with a percent gain, while the smallcap index rose 0.3 percent.
Rupee Close:
On 02 May'24,the Indian rupee ended marginally lower at 83.46 per dollar on Thursday amid a strong greenback after the American central bank decided to keep interest rate unchanged.
Trading Guide:
In the US Fed meeting on Wednesday, Jerome Powell hinted a willingness to cut US Fed rates despite sticky inflation, which may initially boost stock prices, say experts. Market experts have recommended these seven stocks to buy today-Voltas, Tata Motors, HDFC AMC, HFCL, Bank of Baroda, Balkrishna Industries, and Gokaldas Exports.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)