Fed Cut To Help Stock Mkts Consolidate In Long Run, Says Vishwas Agarwal
The BSE Sensex, on Wednesday, ended after making a gain of 161.37 points at 14,994.83, whereas the broad-based NSE Nifty ended at 4,573.95, up 40.95 points.
The 30-share index Sensex opened on a cheerful note with a positive gap of 492.33 points at 15,325.79 following the interest rate cut by US Federal Reserve.
The index traded sturdily for a short period because of buying activity seen across the frontline stocks.
But, the Sensex broke off from days’ peak by losing all its power. At last, it marked its closure positively. It also touched an intraday high of 15,465.81.
Stock market expert Vishwas Agarwal stated that the market ended the week on a comparatively weak note as a result of the long holiday period. No fresh buying was seen in the market.
Mr. Agarwal added that the acts by the Fed Reserve will assist the stock market consolidate in the long-term.
Vishwas also advised capitalists to stay calm in place of panic selling and buying at wrong time.