Share Market Live: Sensex, Nifty likely to open higher today

The Indian market is likely to open higher today as SGX Nifty rose 132 points to 15,802. Market fell for the fourth consecutive session ahead of Federal Reserve's policy announcement on Wednesday. Sensex fell 152 points to 52,541 and Nifty closed 40 points lower at 15,692.

Here's a look at live market updates today.

9:05 AM: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities

"Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicates a  gap up opening with 131 points gain. The US Federal Reserve on June 15 announced a three-quarter of a percentage point or a 75 bps hike in its target interest rate, in what is being seen as a move to curb the spiralling inflation. Also, India's cabinet has approved a proposal to auction high speed fifth generation, or 5G, telecom spectrum for 20 years starting July 26.  Bitcoin falls to fresh 18-month low.Crucial support for Nifty 50 is 15,500 while Nifty may face some resistance at 16,300."

9:03 AM: Wall Street rallies after Fed rate hike; Nasdaq up 2.5%, S&P, Dow rise over 1%

The S&P 500 rallied on Wednesday to snap a five-session losing skid after a policy announcement by the Federal Reserve that raised interest rates to market expectations as the central bank seeks to fight rising inflation without sparking a recession.

The Federal Reserve raised its target interest rate by three-quarters of a percentage point, its biggest rate hike since 1994, and projected a slowing economy and rising unemployment in the months to come. READ MORE

8:40 AM: US Fed hikes rates by 0.75 percentage point, flags slowing economy

The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising unemployment in the months to come.
The rate hike was the biggest made by the U.S. central bank since 1994, and was delivered after recent data showed little progress in its inflation battle.READ MORE

8:35 am: Expert take

Prashanth Tapse, Vice President (Research), Mehta Equities

"Overnight gains in the US markets coupled with early optimism in SGX Nifty is expected to charge up local bulls, after the policy rate hike of 75 bps by the US Federal Reserve came in as anticipated. Besides, the US Treasury yields also fell by 15 bps to 3.379% after having touched an 11-year high above 3.49% a day before. Easing WTI crude oil prices could also boost sentiment, as domestic equities have been under severe bear hammering for the past few sessions due to relentless FII selling."

8:20 am: SGX Nifty

The Indian market is likely to open higher today as SGX Nifty rose 132 points to 15,802. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday

The Indian equity market fell for the fourth consecutive session ahead of Federal Reserve's policy announcement Wednesday. Sensex fell 152 points to 52,541 and Nifty closed 40 points lower at 15,692.

Top Sensex losers were NTPC, Infosys, Reliance Industries, Hindustan Unilever, Wipro, Tech Mahindra and PowerGrid, falling up to 2.02 per cent. Bajaj Finserv, Bajaj Finance, Tata Steel and Larsen & Toubro were among the top Sensex gainers, rising up to 4.24 per cent.