Trade opens lower , Sensex down 0.20 %…

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Markets open lower over Fed’s hawkish rate outlook: Sensex down 0.20%, Nifty off 0.26%

Rupee opens lower at 61.38 per dollar versus Wednesday’s close of 60.95.

Nifty futures on the Singapore exchange traded down by 26.50 points (-0.40%).

Major Asian indices are currently trading in red. Nikkei is trading down 0.52 per cent, Hang Seng trading down 0.89 per cent, Kospi down by 0.79 per cent and the KLSE down marginally by 0.18 per cent.

Global cues are the key to Indian markets today. Overnight, the Fed voted to cut its monthly bond purchases from $65 billion to $55 billion, in line with what analysts were expecting. Despite severe winter weather in January and February, the Fed said economy had recovered enough for it to continue reducing the bond buys, which are aimed at keeping long-term interest rates low.

The Sensex and Nifty closed flat on Wednesday as frontline IT stocks took a hit amid muted revenue guidance given by IT major TCS. TCS ended the day with 4 per cent losses, but metal and banking stocks supported markets.

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