Stocks cheer Fed stance on rates
US Fed chair Powel’s comments have led markets to believe that the peak in interest rate is near and the Fed could cool rate hikes.
Indian benchmark indices Sensex and Nifty gained 1.87% and 1.73% respectively on Thursday as investors breathed a sigh of relief over rate hikes by the US Federal Reserve (75 bps) coming in line with expectations. A less hawkish stance of the US FED added to investor optimism.
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