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19 June, 2018 23:17 IST
Markets likely to open with positive bias: Angel Broking
Source: IRIS | 16 Mar, 2017, 09.17AM
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Indian markets are likely to open with a positive bias tracking the SGX Nifty, said Angel Broking in its report.

US stocks rose on Wednesday in spite of the Federal Reserve raising interest rates. The Federal Reserve raised the target range for the Fed Funds Rate by 25 basis points. The Fed also stated that economic data indicated that the labor market has become stronger and that economic activity has to expanded at a moderate pace. Gold and airline stocks had a strong session with the NYSE Arca Gold Bugs Index and the NYSE Arca Airline Index closing up by 7.8 percent and 3 percent respectively.

UK stocks closed slightly positive as investors stayed on the sidelines ahead of the interest rate decision by the Federal Reserve. The UK jobless rate declined to its lowest level since 1975 as companies hired more staff due to robust economic activity. Mining stocks were positive as rising metal prices and weak dollar provided a boost to the sector. Glencore closed up 2.86 percent and Rio Tinto also rose by 0.95 percent.

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