Nifty to follow global cues, open in green on US Fed hike

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After having a widespread cautious sentiment on Wednesday, the Indian equity

market is likely to open in the green today. The SGX Nifty, an indicator of the market opening, was trading at 7779.50, up 19.50 points at 7:30 am. On the global front, the US Federal Reserve hiked its benchmark interest rate by 0.25 percent for the first time in a decade. The move, closely watched, across the globe is seen as a dovish commentary by Fed chairperson Janet Yellen. Yellen said the Fed's monetary policy remains "accommodative" and there will be a "gradual" increase in Fed fund rates.