Stock Market Highlights: Nifty Forms High Wave Type Candle, Larsen & Toubro Raises Rs 1,500 Crore, US Stocks Open Higher After Fed’s Rate Hikes

Stock Market Highlights: Nifty Forms High Wave Type Candle, Larsen & Toubro Raises Rs 1,500 Crore, US Stocks Open Higher After Fed’s Rate Hikes

Nifty on Thursday ended 144 points higher and formed a high-wave type candle pattern on the daily chart. The short-term uptrend status of Nifty remains intact and there is a possibility of Nifty moving towards 19200-19300 levels again in the coming sessions before consolidating again from the highs. Larsen and Toubro (L&T) has raised Rs 1,500 crore through Non-Convertible Debentures (NCDs) and the debentures are proposed to be listed on the National Stock Exchange. US stocks opened higher on Thursday on hopes that the US Federal Reserve had reached the end of its tightening campaign. Oil gained 1% on Thursday to snap a three-day decline as risk appetite returned to financial markets after the US Federal Reserve kept benchmark interest rates on hold. The pound rose and UK government bond yields recovered some ground after the Bank of England held interest rates at a 15-year high. Akzo Nobel India reported a 44.03% increase in its consolidated net profit for the September quarter. Tata Motors reported a 44.03% increase in its consolidated net profit for the September quarter. Adani Enterprises reported a 848% growth in its net profit for the September quarter.

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