Nifty continues trading at record high as US Fed less hawkish than expected

Benchmark indices opened at a higher note with Nifty hitiing fresh record high tracking global cues as US Federal Reserve Chair Janet Yellen made the well-anticipated move of increased rates by 25 bps in its effort to return monetary policy to a more normal footing. Investors breathed a sigh of relief as Fed signaled no pick-up in the pace of rate hikes. It also stuck to its outlook for two additional rate increases this year and three more in 2018. Nifty hit fresh record high of 9135, surpassing 9,122 levels reached on March 14, post BJP's UP election victory. At 10:11 am, the S&P BSE Sensex was trading at 29,594 up 186 points, while the broader Nifty50 was ruling at 9,150 up 65 points. Commodity Trading Tips

The broader market was trading in line with the benchmark indices with BSE Midcap and BSE Smallcap up 1% and 0.9% respectively. "Nifty is well placed above the 9,000 levels indicates strength and has a potential to test 9,140-9,240 levels in coming trading sessions. For Intraday support placed at 9,040/9,000 levels, as long as it sustain above the same the Bull rally is likely to continue its uptrend," said Nirmal Bang Research in a technical note. On Wednesday, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,141.13 crore, while Domestic institutional investors (DIIs) also bought shares worth a net Rs 126.75 crore, provisional data available with BSE showed. Nifty Trading Tips

Sector and Stocks
 
ONGC, Adani Ports, HUL, L&T and Tata Motors were the biggest movers on the BSE Sensex while HeroMoto Corp, Bharti Airtel and HDFC Bank were the top losers. HCL Tech rose nearly 2% on reports that the company board will meet next week to consider stock buyback to boost shareholder value.  Future & Option Trading Tips