Indian stocks rose marginally and started fresh with positive momentum, after experiencing losses during most part of the previous session. Today's marginal rise can be partly attributed to value buying by investors.
Largely, the fall is in line with weakness in the US markets, which are volatile as the US Federal Reserve further hiked interest rates to bring down inflation to its target even as volatility in the banking system continued due to the recent collapse of some banks.
Indian stocks settled lower on Thursday in line with weakness in the US markets, which declined sharply overnight as the US Federal Reserve went ahead with its further monetary policy tightening to bring down inflation to its target even as volatility in the banking system continued due to r
The US monetary policy committee, seeking to achieve maximum employment and inflation at the rate of 2 per cent over the longer run, hiked the key interest rate by 25 basis points to 4.75-5.0 per cent at its latest two-day review meet.
Indian stocks fell Thursday during the morning trade in line with weakness in the US markets, which declined sharply overnight as the US Federal Reserve went ahead with its further monetary policy tightening to bring down inflation to its target-- even as volatility in the banking system
Benchmark stock indices in India settled in the green on Friday, tracking positive cues from overseas markets which improved after the recent slump -- following the collapse of Silicon Valley Bank and aftereffects on some other banks.
The US central bank's policy rate is now in a target range of 4.25-4.50 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022.
In December, consumer inflation in the US moderated to 6.5 per cent from 7.1 per cent the previous month but still is way above the 2 per cent target. In October, it was reportedly 7.7 per cent.
The article said emerging markets are appearing more resilient than in the year gone by, but their biggest risks in 2023 stem from US monetary policy and the US dollar.
At present, the US dollar represents slightly more than 60 per cent of global foreign exchange reserves at central banks, compared to more than 80 per cent in the early 1970s.