Saturday, December 3, 2022

Home Business Indian Stock Gain For Third Straight Session; Rupee Strengthens

Indian Stock Gain For Third Straight Session; Rupee Strengthens

New Delhi [India]: Indian stock indices BSE Sensex and Nifty extended their gains for a third session today. The upwards trend is in line with the US stock markets.

The minutes of the US Federal Reserve’s latest monetary policy review meeting were released yesterday that hinted at a slow down in future rate hikes. 

In fact a substantial majority of members judged that a slowing in the pace of increase in policy rates would “soon be appropriate” also supported stock markets. 

“A slower pace in these circumstances would better allow the Committee to assess progress toward its goals of maximum employment and price stability,” the US Fed minutes published on Wednesday (local time) said.

At the time of writing this report, Sensex traded at 61,828.47 points, up 317.89 points or 0.52 per cent, whereas Nifty traded at 18,370.30 points, up 103.05 or 0.56 per cent.

“U.S. stock indexes finished higher for a second day on Wednesday in a choppy session after the latest meeting minutes from the Federal Reserve showed most policymakers expect a slower pace of interest rate hikes will “soon be appropriate”, even if they are uncertain how high the benchmark rate will rise,” said Deepak Jasani, Head of Retail Research at HDFC securities.

The rupee too appreciated marginally this morning. It opened at 81.72 against the US dollar versus Wednesday’s closing of 81.85.

RELATED ARTICLES

Goldy Brar Likely To Be Handed To India By US Soon

New Delhi [India]: Accused go masterminding Sidhu Moosewala murder, Canada-based Gangster Goldy Brar may soon be handed over by the US Federal Bureau of Investigation (FBI) to Indian law enforcement agencies, sources said. ....Tap to read more

Kanye’s Twitter Account Suspended After Posting Swastika Image-Musk

American Rapper Ye, formerly known as Kanye West has been suspended from Twitter for violating the microblogging site's rules against incitement to violence. ....Tap to read more

Inspired by TV, Woman Kills Another To Fake Her Death In UP

A woman and her lover have been arrested for allegedly killing another woman to fake her own death, the police said on Friday. ....Tap to read more

Most Popular

Goldy Brar Likely To Be Handed To India By US Soon

New Delhi [India]: Accused go masterminding Sidhu Moosewala murder, Canada-based Gangster Goldy Brar may soon be handed over by the US Federal Bureau of Investigation (FBI) to Indian law enforcement agencies, sources said. ....Tap to read more

Kanye’s Twitter Account Suspended After Posting Swastika Image-Musk

American Rapper Ye, formerly known as Kanye West has been suspended from Twitter for violating the microblogging site's rules against incitement to violence. ....Tap to read more

Inspired by TV, Woman Kills Another To Fake Her Death In UP

A woman and her lover have been arrested for allegedly killing another woman to fake her own death, the police said on Friday. ....Tap to read more

Sidhu Moosewala Case: Gangster Goldy Detained In US, Says Punjab CM

Punjab Chief Minister Bhagwant Mann on Friday said Canada-based top gangsters Goldy Brar, the alleged mastermind in the killing of Punjabi singer Sidhu Moosewala, has been detained in California, United States. ....Tap to read more

Recent Comments