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Stock Market Today 14 December 2023: After the US central bank Federal Reserve’s decision on policy rates, Wall Street remained vibrant and the Dow Jones, S&P and Nasdaq closed with bumper gains. Earlier, after a day’s decline, Indian stock markets regained momentum on Wednesday and the Sensex closed with a marginal gain of 34 points.
Dow Jones at Record High:The Federal Reserve said it would keep interest rates steady through 2024 and keep borrowing costs low. It pushed the Dow Jones Industrial Average to its first record high since January 2022. The Dow Industrial Average rose 512.3 points, or 1.4 percent, to 37,090.24, while the S&P 500 added 63.39 points, or 1.37 percent, to 4,707.09. The Nasdaq Composite rose 200.57 points, or 1.38 percent, to close at 14,733.96.
Hopes did not rise in Asian markets: On the other hand, Asian markets rose on Thursday after the Federal Reserve kept interest rates steady for the third consecutive time and signaled a rate cut in 2024. Japan’s Nikkei 225 rose 0.54 percent, while the Topix fell 0.14 percent.
Also read: Stock Market 2023: Nasdaq, S&P 500 rise more than Sensex-Nifty
South Korea’s Kospi rose 1.46 percent and Kosdaq rose 1.69 percent. GIFT Nifty Nifty Futures was trading around 21,240 level against previous close of 21,035, signaling a positive start for the Indian stock market today.
Let us tell you that the US Federal Reserve has kept the benchmark lending rate unchanged in the range of 5.25 percent to 5.50 percent and has also signaled that the cycle of interest rate hikes is over. Key interest rates were left unchanged on Wednesday and further rate cuts are expected next year.
Earlier on Wednesday, the Sensex closed at 69,584.60 points with an increase of 33.57 points. At one point during the trading, it fell to 450.47 points. The Nifty also settled at 20,926.35 points with a marginal gain of 19.95 points. Foreign institutional investors were net buyers on Wednesday.