India’s Sensex and Nifty 50 started Thursday near flat as investors tracked the Federal Reserve’s rate decision and oil prices, though reports gave conflicting readings for the benchmarks’ opening levels.
Hindustan Times’ summary put the Sensex at 73,210.99, down 35.04 points, or 0.05%, and the Nifty 50 at 22,693.80, down 5.05 points, or 0.02%. Its article text instead gave the Sensex at 73,340.78, up 94.75 points, or 0.13%, and the Nifty at 22,729.45, up 30.60 points, or 0.13%. The figures point in opposite directions.
Business Standard also gave a different opening pair. The Times of India and IANS posted separate readings later in the session, which do not resolve the conflicting opening figures.
The Federal Reserve said the Federal Open Market Committee voted 10-2 on Wednesday to keep its federal funds target range at 3.75%-4%. Two members dissented in favor of a quarter-point increase.
Reuters’ late-Wednesday update put Brent crude futures at $114.50 a barrel at 9:32 p.m. EDT Wednesday (1:32 a.m. UTC Thursday), 82 cents lower after a 1.3% rise during Wednesday. Investing.com said lower crude prices could reduce costs for firms reliant on imported oil and businesses with substantial fuel and transportation expenses. The outlet said a prolonged period above $100 a barrel could squeeze margins and add to inflation.
The Sensex closed Wednesday at 73,246.03, down 0.48%, while the Nifty 50 fell 0.22% to 22,698.85. Hindustan Times and the Times of India cited weakness in information technology shares and Reliance Industries, along with higher crude prices and investor caution ahead of the Fed decision.
The Fed’s next scheduled meeting is Dec. 8-9, its calendar shows.
