Market Highlight: Raised Target Federal Funds Rate 25 Basis Points

The US Federal Reserve raised interest rates by a quarter points on Wednesday and signaled a faster pace of raise in 2017 as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation.

Share Market Tips: The rate raise, regarded as a virtual certainty by financial markets in the wake of a string of generally strong economic reports, raised the target federal funds rate 25 basis points to between 0.50 percent and 0.75 percent.

Cipla | Gitanjali Gems | S H Kelkar | Swaraj Automotives | Welspun India | Mandhana Retail | MBL Infra | NALCO | Nectar Life and Jagran Prakashan are stocks, which are in the news today.
funds

Indian ADRs ended lower on Wednesday. In the IT space, Infosys was down 0.13 percent at USD 14.84 and Wipro declined 0.18 percent at USD 9.44. In the banking space, ICICI Bank cut down 0.12 percent at USD 7.73 and HDFC Bank was dipped 1.31 percent at USD 62.33. In the other sectors, Tata Motors was down 0.52 percent at USD 34.08 and Dr Reddy’s Laboratories shed 0.56 percent at USD 46.18.

Free Intraday Tips: The market has rebound on technology stocks support. The Sensex is up 113.96 points at 26716.80, and the Nifty up 35.30 points at 8217.75. About 1026 shares have higher, 501 shares declined, and 65 shares are unmoved. 

IT index is up over 1 percent with top gainers like Infosys and TCS. Adani Ports, Infosys and GAIL are top gainers while Sun Pharma, Bharti Airtel, ITC, ICICI Bank and ONGC are losers in the Sensex. 
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