Sensex jumps 156 points in morning trade; within striking distance of 62k level
Diarytimes Media Network, Shimla Published by : Kumud Sharma, Updated May 22, 2023 by Diary Times
Key indices of the domestic equities market opened higher on Monday morning as buying in IT stocks took place, defying weak global cues prevailing across the world.
BSE 30-share Sensex went up 156 points to 61,909.79 and NSE Nifty 50 surged 69 points to 18,272.60 in morning trade on Monday.
In the Asian markets, Hong Kong’s Hang Seng surged 237 points, Japan’s Nikkei dropped 5 points, China’s Shanghai surged 16 points, Philippines Stock Exchange was trading in the negative territory and Thailand Set was trading in the positive territory.
According to CNN Business, experts seem to agree that the US Federal Reserve is unlikely to raise rates again in June. “The absence of any such preparation [for a raise] is the signal and gives us additional confidence that the Fed is not going to hike in June absent a very big surprise in the remaining data, though we should expect a hawkish pause,” Evercore ISI strategists said in a May 19 note.
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