Gold is sensitive to rising rates, which increase the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

Global markets at a glance
Major U.S. stock indexes fell on Thursday, with the S&P 500 down the most in a month, as investor worries over potential roadblocks to the Republicans' tax overhaul morethan offset optimism over strong retail sales data.Though Congressional Republicans had reached a deal on final tax legislation on Wednesday, Republican Senators Marco Rubio and Mike Lee said on Thursday they would not get behind the bill without changes to child tax credits.

MACRO NEW
The Nifty50 futures on the Singapore Stock Exchange were trading 64 points higher at 10352 indicating a positive opening for the domestic market.

The exit polls predict a clear BJP majority in both Himachal Pradesh and Gujarat. In Himachal Pradesh, the BJP is expected to wrest power from the Congress
with a massive majority. In Gujarat, the BJP is projected to win around 110 seats on average, just short of the 115 seats out of 182 it won in 2012.

Multi-specialty hospital chain Shalby which recently concluded its Rs 504 crore initial public offering, will list its shares on NSE as well as BSE today.

STOCKS IN NEWS
Gulf Oil Lubricants starts Commercial Production At Chennai Plant
Unitech - HDFC sells 12.9mn shares, invokes 82mn pledged shares of Unitech

COMMODITY ROUNDUP
Gold futures traded higher on MCX as participants created fresh positions due to a firm trend overseas, where gold inched up as the dollar was nearly unchanged after tumbling in the previous session following the US Federal
Reserve’s widely expected decision to raise interest rates.The contract for February delivery was trading at Rs 28350.00, up by 0.55% or Rs 155.00 from its previous closing of Rs 28195.00. The open interest of the contract stood at 7344 lots.


CURRENCY MARKET UPDATE
The dollar held steady against other major currencies on Thursday, as markets were still digesting the Federal Reserve's latest policy statement, while looking ahead to a string of U.S. economic reports due later in the day.In a widely expected move, the Fed raised interest rates by 0.25 basis points to 1.50% at the conclusion of its policy meeting on Wednesday.The central bank did not change its projections for 2018, which include three more interest rate hikes in both 2018 and 2019, disappointing expectations for four rate hikes next year.
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