Share Market LIVE: SGX Nifty hints gap-up start for Sensex, Nifty on F&O expiry; US Fed hikes rates by 75bps

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Share Market News Today | Sensex, Nifty, Share Prices LIVE: On Thursday morning, SGX Nifty was up with gains suggesting a reversal could be on the cards.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets have looked nervous throughout this week with headline indices continuing to move southward for four days now. On Wednesday, Sensex fell 152 points or 0.29% to settle at 52,541 points while the NSE Nifty 50 index ended just below 15,700. Now, on the weekly futures & options expiry session, SGX Nifty was up with gains suggesting a reversal could be on the cards. Global cues were also positive after NASDAQ zoomed 2.5%, followed by S&P 500 and the Dow Jones. In Asia, Shanghai Composite, Nikkei 225, TOPIX, KOSPI, and KOSDAQ were in the green.

The US Federal Reserve, in an attempt to tame inflation, hiked interest rates by 75 basis points on Wednesday. The massive rate hike was the biggest since 1994 as the Fed tried to curb rising prices with inflation at a 40-year high in the US. The target range for the federal funds rate was increased from 1.5% to 1.75%. The US Fed has also signalled that FOMC will keep hiking rates aggressively. US Fed Chair Jerome Powell said that another 75 bps of 50 bps hike could come in the next FOMC meeting. 

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