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PremiumMarket Close Highlights : European equities lost ground on Thursday, weighed down by elevated government bond yields after the U.S. Federal Reserve cut its interest rate cut projections to just one this year.
The continent-wide STOXX 600 was down 0.5% as of 0828 GMT, after closing around 1% higher in the previous session.
The Fed held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with the central bankers projecting only one quarter-point rate cut this year from three projected in March.
Bond yields across the euro zone rose, with the benchmark German 10-year bund yield last seen at 2.556%.
European equities have pulled back from last week's record highs hit on the back of the European Central Bank's rate cut, as investors assessed France's political uncertainty.
"The political situation is not supportive of appetite in the European stocks, and the uncertainty is pushing the European yields higher and they are growing wider from each other," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank.
Separately, global index compiler MSCI decided on Wednesday not to include the European Union's debt in its government bond indexes.
Most sectors traded lower, with rate-sensitive real estate down 0.6%.
Auto stocks lost 2% and led sectoral declines. Milan-listed shares of Stellantis fell 2.6% as the world's fourth-largest automaker maintained its 2024 financial forecasts.
The stock was among top losers on Italy's FTSE MIB index , which fell 1.1%.
Among other stocks, Wise sank 16.1% to the bottom of the STOXX 600 after the British money transfer company forecast a 15%-20% growth in its underlying income this year, a slowdown on the 31% seen in the year to end-March.
Shares of Lufthansa slid 5.2% as J.P.Morgan placed the German flagship carrier on a negative catalyst watch.
Meanwhile, BT gained 2.4% after Mexican magnate Carlos Slim took a 3.16% stake in Britain's largest broadband and mobile operator.
Sensex Today Live : Indian benchmark indices gained on Thursday, on the back of strong cues from global markets driven higher by lower inflation reading in the US, although gains were capped by the Federal Reserve's commantary signalling only one interest rate cuts in this year.
Sensex, which had opened at a record high of 77,102.05, surged to create a fresh all-time high of 77,145.46, but pared some gains to close at 76,810.90, up 204.33 points, or 0.27%.
Similarly, Nifty 50, which had opened at a record high of 23,480.95, climbed to a fresh all-time high of 23,481.05 during the day. At close, Nifty was at 23,399.90, up 75.95 points, or 0.33%.
Meanwhile, 10 of the 30 stocks on the BSE Sensex closed in the red. Hindustan Unilever, Power Grid Corp., Axis Bank, Bharti Airtel, and ICICI Bank, were the top drags, while Mahindra & Mahindra, Titan, Larsen & Toubro, IndusInd Bank, and Tech Mahindra, were the top gainers for the day.
Similarly, on the Nifty 50, 15 of the 50 stocks closed in the red. Hindustan Unilever, Eicher Motors, Axis Bank, Power Grid Corp., and Britannia Industries, were the top drags, while Shriram Finance, Mahindra & Mahindra, HDFC life, Divi's Laboratores, and Titan were the top gainers for the day.
The broader market also closed in the green, with the BSE SmallCap gaining 0.89% and the BSE MidCap climbing 0.79% at close.
Separately, across sectors, barring bank, FMCG, and media, all other sectoral indices closed in the green.
The realty, consumer durables, and IT indices were the top gainers, followed by auto, healthcare and oil & gas indices.
Sensex Today Live : Barring bank, FMCG, and media, all other sectoral indices were trading in the green.
The realty, consumer durables, and IT indices were the top gainers, followed by auto, healthcare and oil & gas indices.
Sensex Today Live : The broader market was trading in the green, with the BSE SmallCap gaining 0.93% and the BSE MidCap climbing 0.78%.
Sensex Today Live : 14 of the 50 stocks on the Nifty 50 were trading in the red. Hindustan Unilever, ICICI Bank, Axis Bank, Eicher Motors, and Britannia Industries, were the top drags, while Shriram Finance, HDFC life, Divi's Laboratores, Titan and Mahindra & Mahindra, were the top gainers.
Sensex Today Live : 10 of the 30 stocks on the BSE Sensex were trading in the red. Hindustan Unilever, ICICI Bank, Axis Bank, Power Grid Corp., and Bharti Airtel, were the top drags, while Titan, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank, and TCS, were the top gainers.
Sensex Today Live : Indian benchmark indices gained on Thursday, on the back of strong cues from global markets driven higher by lower inflation reading in the US.
At 3 pm, Sensex was up 185.85 points, or 0.24%, at 76,792.42 and Nifty was up 67.65 points, or 0.29%, at 23,390.60.
Sensex Today Live : Butterfly Gandhimathi Appliances today announceed the resignation of Rangarajan Sriram as managing director to purusue other opportunities outside the company.
Sriram will continue in the position till August 7, 2024 to ensure a seamless transition, the company said.
Sensex Today Live : Bank of Maharashtra today announced that it has reviser the Marginal Cost of Funds Based Lending Rate (MCLR) for various tenors.
The revised MCLR are as follows:
Sensex Today Live : Axis Bank today announced that Sumit bali, Group Executive - Retail Lending has resigned from the company to pursue career opportunities outside the bank.
The bank also informed that it has appointed Anuranjan Kumar, currently Head of Operational Health and Control, to the position of chief compliance office, following incumbent Bimal Bhattacharyya's appointment to another role after the completion of his tenure on June 13.
Sensex Today Live : Indian benchmark indices gained on Thursday, on the back of strong cues from global markets driven higher by lower inflation reading in the US.
At 2 pm, Sensex was up 275.28 points, or 0.36%, at 76,881.85 and Nifty was up 82.85 points, or 0.36%, at 23,405.80.
Sensex Today Live : Integra Essentia today announced the receipt of significant fresh orders for its Agro and Infrastructure business segments with a total aggregate value of ₹21 crore.
In the Infra business, the company has secured orders for High-Tensile TOR Steel, while in the Agro segment, it has received orders from regular customers including Sarveshwar Foods and Sarveshwar Overseas.
Sensex Today Live : Sai Silks (Kalamandir) today announced that it will inaugarate its 61st store in the format of Kanchipuram Varamahalakshmi Silks, on 14 June in Salem, Tamil Nadu.
Sensex Today Live : Aurionpro Solutions today announced that its subsidiary Aurionpro Payment Solutions has received the final approval from the Reserve Bank of India to operate as an online payment aggregator.
The company, in an exchange filing, said, "We are pleased to inform that the Reserve Bank of India (“RBI") has granted final authorization to Aurionpro Payment Solutions Private Limited (Aurionpro Payments), a Wholly-Owned Subsidiary of the Company to operate as an Online Payment Aggregator under the Payment and Settlements Systems Act, 2007".
Sensex Today Live : Larsen & Toubro today announced that its hydrocarbon vertical (L&T Energy) has secured an order from the Oil & Natural Gas Corporation (ONGC) worth between ₹2,500 crore to ₹5,000 crore.
The company, in an exchange filing, said the project is "for Daman Upside Development Project-Wellhead Platforms & Pipelines (DUDP-WP), off India’s west coast".
The scope of work includes engineering, procurement, construction, installation, and commissioning of four Wellhead Platforms, 140-km Pipeline and associated Topside modifications at Tapti Daman block at a Western offshore location, it added.
Sensex Today Live : Indian benchmark indices gained on Thursday, on the back of strong cues from global markets driven higher by lower inflation reading in the US.
At 1 pm, Sensex was up 271.04 points, or 0.35%, at 76,877.61 and Nifty was up 77.45 points, or 0.33%, at 23,400.40.
Sensex Today Live : Kotak Mahindra Life Insurance today announced its corporate agency partnership with Mahindra & Mahindra Financial Services to offer life insurance products to M&M Finance's customers.
The partnership will benefit over 10 million customers of Mahindra Finance by offering a wide range of tailor-made life insurance solutions provided by Kotak Life, the company said in its exchange filing.
Sensex Today Live : Computer Age Management Services today announced that its wholly owned subsidiary CAMSRep has launched, Bima Central, a one-stop platform to simplify insurance portfolio management.
Bima Central allows users to manage Life, Health, and Motor policies through their secure eInsurance Account (eIA). Any policyholder who has opened their eIA with CAMSRep will get access to Bima Central for managing their policies with various insurers, with features such as simplified policy information, renewals & reminders, profile management of personal data and nominee information, policy calendar, and more, the company said in an exchange filing.
Those who want to open their new eInsurance Account (eIA) will also be able to do so instantly on Bima Central after completing KYC, the company added.
Currently, the portal is available in English and Hindi on Android, iOS as well as web, it added.
Sensex Today Live : Across sectors, the media, FMCG, PSU bank, private bank, and metal indices were in the red, while the realty, consumer durables and IT indices were the top sectoral gainers.
Sensex Today Live : The borader market was trading in the green, with the BSE SmallCap gaining 0.60% and the BSE MidCap climbing 0.62%.
Sensex Today Live : 21 of the 30 stocks on the Nifty 50 were trading in the red. Eicher Motors, Hindustan Unilever, Tata Consumer Products, Britannia Industries, and Power Grid Corp., were the top drags, while HDFC Life, Divi's Laboratories, Shriram Finance, LTIMindtree, and Larsen & Toubro were the top gainers.
Sensex Today Live : 10 of the 30 stocks on the BSE Sensex were trading in the red. Hindustan Unilever, Power Grid Corp., NTPC, Tata Steel, and Maruti Suzuki India, were the top drags, while Larsen & Toubro, Titan, TCS, Wipro, and Tech Mahindra, were the top gainers.
Sensex Today Live : Indian benchmark indices gained on Thursday, on the back of strong cues from global markets driven higher by lower inflation reading in the US.
At 12 pm, Sensex was up 252.98 points, or 0.33%, at 76,859.55 and Nifty was up 73.55 points, or 0.32%, at 23,396.50.
Sensex Today Live : GPT Infraprojects today announced that it has bagged a ₹26 crore order from Transnet Freight Rail, South Africa, to supply concrete sleepers.
Sensex Today Live : Bondada Engineering today announced that it has received a letter of award for work order from NLC India for setting up 600MW Grid Connected Solar Power Poject for an amount of ₹939.4 crore.
Sensex Today Live : In the post, Sharma showed how Sensex moved up by 1%, one week after the formation of the government, while it moved 2.5% and 6.5% after the formation of governments in 2019 and 2024, respectively.
Sensex Today Live : Arvind today announced that the strike by workers at its Santej plant has been called off after the Labour Court declared it illegal.
The company, in an exchange filing, said, "We wish to inform that the strike has been called off by the workers and operations of the company at Santej Plant which were partially impacted due to strike are getting to normalcy".
"The company has estimated potential loss of revenue of around ₹180-200 crores (about 2% of consolidated revenue of FY24) and reduction in EBIDTA of about ₹60-65 crore (about 7% of consolidated EBIDTA of FY24)," it added.
Sensex Today Live : Indian benchmark indices opened in the green on Monday, following strong cues from global markets driven higher by lower inflation reading in the US.
At 11 am, Sensex was up 199.65 points, or 0.26%, at 76,806.22 and Nifty was up 54.75 points, or 0.23%, at 23,377.70.
Sensex Today Live : Amber Enterprises India today announced that it has increased its stake in IL JIN Electronics (India) by acquiring a 4.6% stake in the company from existing shareholder Hyun Chul Sim, for a total consideration of ₹33.23 crore.
The company, in an exchange filing, said, "We are hereby intimating that the Company i.e. Amber Enterprises India Limited has acquired additional 4.6% Equity Stake in IL JIN Electronics (India) Private Limited, from existing shareholder of IL JIN, Mr. Hyun Chul Sim, on 12 June 2024".
The acquisition has been done to increase the company's stake in the IL JIN Electronics, Amber added.
Sensex Today Live : Saksoft today announced that it has entered into a share purchase agreement to acquire 100% equity in Augmento Labs, for a total consideration of ₹100 crore.
In an exchange filing, the company said, "We wish to inform that the Company has executed a Share Purchase Agreement to acquire 100% equity interest in Augmento Labs Private Limited subject to the terms and conditions set out in the Agreement".
Augmento Labs will become a wholly owned subsidiary of Saksoft on closure of the transaction, the company added.
Sensex Today Live : AGS Transact Technologies today announced that its wholly-owned cash management subsidiary Securevalue India has set up a new cash vault facility in Bengaluru, Karnataka.
This facility will offer world class cash processing and vault services, the company said in an exchange filing. The addition of this new cash vault facility is expected to further enhance company’s cash management operations across Karnataka, it added.
SVIL’s new cash vault facility is spread over an area of 14,000 square feet. It is equipped with top notch security features, including 24x7 CCTV monitoring, intrusion systems with motion sensors, firealarm systems, interlocking systems and other advanced access control systems to ensure highest level of security for the stored cash, the company said.
Sensex Today Live : Venus Remedies today announced that it has received an order from UNICEF for its antibiotic product, Ceftriaxone 1gm.
This follows the company earlier receiving the Good Manufacturing Practices (GMP) approval from UNICEF.
Sensex Today Live : GMR Airports Infrastructure today announced that it has received approval gets from NCLT to GMR Airports and GMR Infra Developers into itself.
In an exchange filing, the company said, "Merger of GMR Airports Limited (GAL) and GMR Infra Developers Limited (GIDL) into GMR Airports Infrastructure Limited (Formerly GMR Infrastructure Limited) (GIL), in terms of a Composite Scheme of Amalgamation and Arrangement amongst the said parties. In terms of the Scheme, as approved by the Hon’ble NCLT: GAL, the existing Airport Platform unlisted entity, will in a step approach merge with GIDL and the merged GIDL would merge into GIL, the listed company. GIL will continue as the listed public entity".
Sensex Today Live : Indian benchmark indices opened in the green on Monday, following strong cues from global markets driven higher by lower inflation reading in the US.
At 10 am, Sensex was up 272.52 points, or 0.36%, at 76,879.09 and Nifty was up 73.15 points, or 0.31%, at 23,396.10.
Sensex Today Live : RateGain Travel Technologies announced today that Green Motion International (Green Motion), a pioneering car rental company in eco-friendly transportation, has selected RateGain as its preferred revenue management partner for its franchisee network spread across 650 locations in 73 countries worldwide.
Green Motion franchisees will now be able to track demand and utilization, spikes in city locations, to discover the correct rate for their fleet, and change them based on AI/ML optimization, making it hassle-free and reducing hours of effort, the company said in an exchange filing.
Sensex Today Live : Paytm today announced that Samsung has launched flight, bus, movies and events ticket bookings on Samsung Wallet, in partnership with One 97 Communications that owns the Paytm brand.
The partnership aims to offer a seamless, integrated booking experience directly through the Samsung Wallet, facilitating access to a wide range of services through Paytm.
With this partnership, Galaxy smartphone users will now have seamless access to Paytm’s suite of services, including flights and bus bookings, movie ticket purchases, and event bookings, all integrated within the Samsung Wallet, the company said in an exchange filing.
Sensex Today Live : Barring Media, FMCG, and Oil & Gas, all other sectoral indices were trading in the green.
Among the gainers were the Realty and IT indices, followed by Metal, Consumer Durables, Financial Services and Bank indices.
Sensex Today Live : The broader market was trading in the green, with the BSE SmallCap gaining 0.47% and the BSE MidCap climbing 0.42%.
Sensex Today Live : 10 out of the 50 stocks on the Nifty 50 were trading in the red. Hindustan Unilever, Britannia Industries, Tata Consumer Products, Coal India, and Cipla, were the top drags, while HDFC Life, Divi's Laboratories, LTIMindtree, Wipro, and Shriram Finance, were the top gainers.
Sensex Today Live : Only one stock, Hindustan Unilever, out of the 30 on the BSE Sensex, was trading in the red, while Nestle India, Wipro, Bajaj Finance, Tech Mahindra, and HCLTech, were the top gainers.
Sensex Today Live : They company’s board has approved a rights issue of equity shares worth ₹2,000 crore. The issue price is set at ₹1,651 per share, a 25% discount, and will be open from June 28 to July 4. Six rights equity shares will be issued for every 47 fully paid-up equity shares held by eligible shareholders.
Sensex Today Live : The company emerged as the successful bidder for Gujarat Urja Vikas Nigam’s 250 MW (500 MWh) Battery Energy Storage Project worth ₹1,340 crore. The project will supply electricity to Gujarat State’s DISCOMs during peak and off-peak hours.
Sensex Today Live : Indian benchmark indices opened in the green on Monday, following strong cues from global markets driven higher by lower inflation reading in the US.
At opening bell, Sensex was up 397.92 points, or 0.52%, at 77,004.49 and Nifty was up 115.65 points, or 0.5%, at 23,438.60.
Sensex Today Live : "There is good news on the inflation front, both in the US and in India. In US May CPI inflation has declined slightly less-than-expected to 3.3% with MoM inflation remaining flat. However the economy continues to remain strong and there are no clear signs of labour market loosening. Therefore, the Fed chief Jerome Powell has kept rates unchanged and has hinted at only 1 rate cut in 2024 and possibly 4 rate cuts in 2025.
In India May CPI inflation has declined to 4.75% and core inflation has come at only 3.1%. This paves the way for a rate cut by the MPC in October.
The takeaway from the inflation numbers is that the disinflation process is well on track. From the market perspective, this is positive news, particularly for banking stocks."
--Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Sensex Today Live : Indian benchmark indices were up at pre-open on Thursday, following strong cues from global markets driven higher by lower inflation reading in the US.
Sensex was up 498.49 points, or 0.65%, at 77,105.06 and Nifty was up 158 points, or 0.68%, at 23,480.95 during pre-open.
Sensex Today Live : "BankNifty has been hovering and consolidating near the 50,000 zone for quite some time finding resistance near the 50,200 levels and support maintained near the 49,500 zone as of now. The near-term initial target of 51,000 level can be achieved once a breach above 50,200 zone is confirmed in the coming sessions.
BANKEX also witnessed a similar pattern consolidating and resisting near the 57,200 zone once again and remained almost rangebound for the rest of the session to end near 56,800 levels, gaining 149 points. The overall bias is maintained intact, but with a cautious approach, and as long as the 56,000 level is maintained, the positive trend shall continue, and we can expect a further rise in the coming days.
BankNifty would have the daily range of 49,600-50,400 levels, with Bankex support at 56,200 and resistance at 57,300 levels."
--Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher,
Sensex Today Live : "Nifty has witnessed a consolidation phase since the last 3 sessions with 23,400 zone acting as a tough barrier and would need a decisive breach above to trigger for further rise in the coming days. The major support zone for the index is maintained near the 22,800 levels while on the upside we can expect 23,800 level as the initial target in the coming sessions.
SENSEX also is hovering in the 76,300 and 77,100 zone finding resistance near the peak zone and would need a decisive breakout above this crucial levels for further continuation of the trend. At the same time, 75,000 zone is the crucial support zone breaking which can witness further slide on the downside to weaken the near term bias. The support for the day is seen at 76,200/23,200 levels while the resistance is seen at 77,200/23,500 levels."
--Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher,
Sensex Today Live : Dr Reddy's, Torrent Pharma, Gensol Engineering, L&T Finance, Glenmark, are a few stocks likely to be in focus on Thursday, June 13.
Sensex Today Live : Tracking positive global market cues, the Indian stock market benchmark indices, Sensex and Nifty 50, are anticipated to open strong on Thursday. The Gift Nifty trends suggest a gap-up start for the Indian benchmark index, trading around the 23,460 level, nearly 100 points premium from the Nifty futures’ previous close.
On Wednesday, the domestic equity market closed higher, with the Nifty 50 ending above the 23,300 level. The Sensex rose by 149.98 points to close at 76,606.57, while the Nifty 50 increased by 58.10 points (0.25%) to settle at 23,322.95.
The Nifty 50 formed a small negative candle on the daily chart with an upper shadow. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, explained that this pattern indicates a range-bound action in the market around the crucial hurdle of 23,400 - 23,500 levels. Such patterns typically result in a dip below the range movement. The overhead resistance of the key Fibonacci extension, the opening upside gap of 4th June, and the upward sloping resistance line remain intact around 23,400 - 23,500 levels. As long as this hurdle is not decisively overcome on the upside, a downward correction cannot be ruled out. (Read the full story here.)
Sensex Today Live : Following positive global cues, the domestic equity benchmark indices, Sensex and Nifty 50, are projected to open higher on Thursday. Asian markets saw an uptrend, and US stocks mostly closed in the green, influenced by the US Federal Reserve’s policy decision and inflation data. The US central bank maintained interest rates for the seventh consecutive meeting and indicated a 25 basis points rate cut this year, which, along with softer than expected US inflation data, buoyed markets.
On Wednesday, the Indian stock market closed higher, primarily due to favourable global cues, with the Nifty 50 reaching a record high during the session. The Sensex rose by 149.98 points (0.20%) to close at 76,606.57, while the Nifty 50 increased by 58.10 points (0.25%) to settle at 23,322.95.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, noted that the Nifty has been consolidating for the past three days due to the absence of fresh domestic triggers and is cautiously awaiting the US CPI and US Fed policy outcome. He added that the market is likely to consolidate in the near term with a positive bias. (Read the full story here.)
Sensex Today Live : Indian benchmark indices were likely to open on a strong footing, driven by gains in global peers as the Federal Reserve's commentary regarding at least one rate cut in this year fuelled markets overnight around the world.
In India, Gift Nifty futures were trading at 23,452, more than a hundred points ahead of Wednesday's Nifty 50 close at 23,322.
The S&P 500 and the Nasdaq scored record closing highs for the third consecutive session on Wednesday and U.S. Treasury yields pared earlier declines as investors weighed a market-pleasing inflation report against lowered interest rate cut expectations.
The dollar shed some weakness after the U.S. Federal Reserve concluded its two-day policy meeting by leaving interest rates unchanged, and released its accompanying policy statement and Summary of Economic Projections (SEP).
The S&P 500 and the Nasdaq ended sharply higher, while the blue-chip Dow turned slightly negative toward the end of the session.
The more-hawkish-than-expected SEP seemed to contradict the Labor Department's closely watched CPI report released earlier in the day, which showed core prices growing at their slowest annual pace in over three years.
"It's a little disappointing to see this continued hawkishness, especially on the same day where you get one of the softest inflation reports in probably a couple of years," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "The market is going to struggle a bit with how hawkish the Fed is in light of all of not only this morning's data, but last week’s as well."
In his press conference following the decision, Fed Chair Jerome Powell acknowledged that inflation has eased substantially but remains too high and rate-cut expectations have been pushed out due to slower-than-expected progress in bringing price growth down to the central bank's 2% goal.
"I think the main takeaway will be that the market was probably expecting the Fed to shift the dot plot from three cuts to two cuts," Mayfield added. "Instead it was shifted from three cuts to one cut, which on margin is a hawkish surprise."
Still, financial markets are pricing in a 61.5% likelihood of a 25-basis-point rate cut in September, up from 46.8% on Tuesday, according to CME's FedWatch tool.
The Dow Jones Industrial Average fell 35.21 points, or 0.09%, to 38,712.21, the S&P 500 gained 45.71 points, or 0.85%, to 5,421.03 and the Nasdaq Composite added 264.89 points, or 1.53%, to 17,608.44.
European shares closed sharply higher after the CPI report and prior to the Fed's rate decision.
The pan-European STOXX 600 index rose 1.08% and MSCI's gauge of stocks across the globe gained 0.86%.
Emerging-market stocks rose 0.39%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.5% higher, while Japan's Nikkei lost 0.66%.
U.S. Treasury yields slid after the data, but retraced a bit after the SEP release.
U.S. benchmark 10-year Treasury notes last rose 19/32 in price to yield 4.3277%, from 4.402% late on Tuesday.
The 30-year bond last rose 27/32 in price to yield 4.4846%, from 4.535% late on Tuesday.
The dollar pared its losses against a basket of world currencies after the central bank cut its 2024 rate-cut expectations.
The dollar index fell 0.46%, with the euro up 0.61% to $1.0804.
The Japanese yen strengthened 0.14% versus the greenback at 156.88 per dollar, while Sterling was last trading at $1.2793, up 0.42% on the day.
Oil prices settled higher, supported by simmering tensions in the Middle East, and by forecasts that global inventories will fall in the latter half of the year.
U.S. crude rose 0.77% to settle at $78.50 per barrel, while Brent settled at $82.60, up 0.83% on the day.
Gold gained ground but lost some shine in the wake of the Fed's updated economic projections.
Spot gold added 0.2% to $2,320.76 an ounce.
