Invest in Credit Risk Mutual Fund or not?
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The domestic equity markets are likely to open in the green on Thursday. However, the session may remain volatile as July 2021 F&O contracts will expire on July 29. Overseas, Asian stocks traded mixed on Thursday after the US Federal Reserve left its benchmark interest rate near zero. Meanwhile, shares in Hong Kong continued to see a rebound from a two-day slump earlier in the week.
US stocks slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
The Federal Open Committee ended its two-day meeting by keeping interest rates in a target range between zero and 0.25%. Fed Chairman Jerome Powell said the U.S. central bank is nowhere near considering a rate hike despite the optimism over the US economy.
Domestic markets:
Back home, the domestic equity indices ended with small losses after a volatile trading session. The S&P BSE Sensex, fell 135.05 points or 0.26% to 52,443.71. The Nifty 50 index lost 37.05 points or 0.24% to 15,709.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,274.77 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 921.45 crore in the Indian equity market on 28 July, provisional data showed.