he Reserve Bank of India (RBI) will on Friday announce its bimonthly monetary policy statement which is closely watched by financial market participants
The selling spree continues in Indian stock markets for the third straight session after the US central bank while keeping its interest rate steady in the September meeting, hinted that it may again hike rates going ahead if need be, in its fight against inflation.
The US Federal Reserve in its September policy meeting left the key interest rate unchanged at 5.25-5.50 per cent but cautioned it may go for additional tightening of monetary policy if need be.
Going ahead into this week, investors are likely to tread carefully as the U.S. Federal Reserve's meeting scheduled Tuesday-Wednesday, its outcome due likely this midnight, will be closely monitored.
Indian stock indices opened marginally in the red on Monday, with the benchmarks witnessing mild profit booking. Investors may have taken some money off the table after the indices hit their fresh highs last week.
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Indian stock indices plunged Thursday morning tracking weak global benchmark US markets, which fell as its central bank Federal Reserve said another hike in interest rate may be needed to tame inflation and bring it to 2 per cent target.
US Federal Reserve Governor Michelle W Bowman has said an additional interest rate increase will likely be needed to get inflation on a path down to its 2 per cent target.
Indian stock market experienced an increase in value with 0.29 per cent hike in the Nifty and 0.23 per cent hike in the Sensex on Thursday after the US Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday.