Indian markets at all time high; replicate US stance on FED rate hike
DSIJ Intelligence / 16 Mar 2017
US stocks hit session highs in afternoon trade on Wednesday after the Federal Reserve increased interest rates for the second time in three months.
US stocks hit session highs in afternoon trade on Wednesday after the Federal Reserve increased interest rates for the second time in three months. The Fed has raised its target rate by 25 basis points from 0.75 per cent to 1 per cent.
Fed also clarified that it does not have any plan to accelerate the pace of monetary tightening, a concern that had lingered among some market participants. Meanwhile, Wall Street sees two more Fed rate hikes in 2017, and at least 3 in 2018.
The global markets have rejoiced US Fed rate hike. At the same time, Indian capital markets also have hit an all time high. BSE Sensex increased to 29596 levels with gain of 0.67 per cent and Nifty also rose 0.70 per cent to 91 on an intraday basis.
All sectoral indices are trading in green. Metals, Healthcare, Consumer Durables, Capital Goods, Bankex and Auto are trading above 100 points each.
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