Sensex Ends 269 Points Higher; Consumer Durables & Healthcare Stocks Witness Buying

Indian share markets traded on a positive note throughout the day and ended on a strong note. Gains were seen in the consumer durables sectorhealthcare sector and finance sector, while telecom stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 269 points (up 0.8%) and the NSE Nifty closed higher by 80 points (up 0.7%). The BSE Mid Cap index and the BSE Small Cap index ended the day up by 0.9%.

The rupee was trading at 70.00 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was up by 0.4%. The Nikkei 225 was down 0.3%.

In the news from global financial markets, Japan's Nikkei fell today as energy-related shares sunk, leading the index to its first annual loss in seven years.

Energy-related shares weighed on the broader market after oil prices fell steeply overnight on worries about oversupply and an increasingly muddled outlook for global growth.

Earlier this month, Nikkei witnessed selling pressure and hit 9-month low on the back of a sell-off seen in US stock markets as the US Federal Reserve made a dovish stance in its monetary policy.

As expected, the US Federal Reserve raised interest rates. It, however, forecasted fewer rate hikes next year.

It further signaled its tightening cycle is nearing an end in the face of financial market volatility and slowing global growth.

The central bank said the US economy has been growing at a strong rate and the job market has continued to improve.

The rate hike, the fourth of 2018, lifted the target range for the Fed's benchmark overnight lending rate by a quarter of a percentage point to a range of 2.25% to 2.50%.

The decision to raise borrowing costs again is likely to anger US President Donald Trump, who has repeatedly attacked the central bank's tightening this year as damaging to the economy.

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