Share market remains volatile: Factors that are spooking traders
India Today
Indian markets gave up early gains, in line with broader Asia after a report that Russia-backed rebels in eastern Ukraine accused Kyiv government forces of shelling their territory with mortars.
The share market swung between gains and losses on Thursday, as traders weighed risks of an escalation in tensions surrounding Ukraine and minutes from the U.S. Federal Reserve's last policy meeting that struck a less-than-feared hawkish tone.
The NSE Nifty 50 index was flat at 17,359.80, while the S&P BSE Sensex was marginally up 0.15 per cent or 88.67 points at 58,085.35.
Indian markets gave up early gains, in line with broader Asia after a report that Russia-backed rebels in eastern Ukraine accused Kyiv government forces of shelling their territory with mortars.
"These kind of news or any escalation in the conflict between Russia and Ukraine will make Indian markets very volatile," said Prashanth Tapse, vice president (research), Mehta Equities, according to a Reuters report.
Market expectations of U.S. rate hikes have come down following the Fed minutes, Tapse said, adding that if the Russia-Ukraine conflict did not settle, there was a chance that the Fed might even push its rate hike plans.
The Fed minutes showed that while policymakers agreed that it would "soon be appropriate" to raise rates, they would re-assess the rate hike timeline at each meeting.
In Mumbai, rate-sensitive banking stocks were the major drags, with the Nifty bank index down 0.7 per cent.
