Indian Shares Flat Lower: Financial and Auto Gains Offset Tech Declines | Afil ipo gmp
Indian Shares Flat Lower: Financial and Auto Gains Offset Tech Declines | Afil ipo gmp
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Indian shares traded flat lower at around 83,036 as gains in financial services and auto sectors offset declines in tech and healthcare stocks.
The BSE Sensex had hit a new peak a day before, with traders booking profits ahead of the Fed's monetary policy decision and anticipated rate cuts.
India's trade deficit widened to USD 29.7 billion in August 2024, with a 9.3% drop in exports and a 3.3% rise in imports.
Indian shares were relatively flat in morning trade on Wednesday, standing at around 83,036. The market showed mixed performance with a rise in financial services, banking, and auto sectors balancing out the declines observed in tech, pharmaceuticals, healthcare, and metals sectors.
Market Overview and Fed Policy Anticipation
The BSE Sensex had reached a new peak just a day prior, prompting traders to engage in profit-booking. The cautious trading comes ahead of the Federal Reserve's highly anticipated monetary policy decision, with market participants eager to learn the size of the rate cuts expected later today. The Federal Reserve’s decision could significantly influence market directions.
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