The benchmark indices continued to remain under pressure on Thursday, trading over 0.5 percent lower at noon deals weighed by a fall in metal and private bank stocks amid a 25 basis points (bps) hike in key interest rate by the US Federal Reserve. The US central bank raised the key interest rate by 25 bps to a target range of 2.25 percent to 2.5 percent but forecast fewer rate hikes for 2019. It, however, stuck by a plan to keep withdrawing support from an economy it views as strong.
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- ONGC board approves buyback of 252.9 million shares for Rs 40.22 billion.
- Banks to be closed for 5 days due to holidays, strikes in December.
- Govt now set to bypass tribal rights to fast-track mining projects.
- United Bank of India hikes deposit rates across select maturities by 0.25%.