Following the US Federal Reserve’s quarter-point increase in interest rates on Wednesday, the Indian stock market saw gains of 0.29 percent in the Nifty and 0.23 percent in the Sensex on Thursday. The indices rose by 0.26 percent as the Indian stock market opened on Thursday. Positive trading occurred on the Indian stock market on Wednesday, with the Nifty and Sensex both finishing the day 0.5% higher.
Out of the Nifty companies, 40 were in green and 9 in red at the start of the stock trading hour.
Power Grid, Adani ports, Divi’s Lab, UPL and Sun Pharma were the top gainers whereas M&M, Tech Mahindra, Hindustan Unilever, Britannia and Eicher Motors were the top losers as of Thursday morning.
Indices increased by a total of 5.37 per cent over the past month.
To address the economy’s rising inflationary pressure, the US Federal Reserve has raised interest rates in a series of successive moves.
The benchmark federal fund rate is at its highest level since 2001, ranging from 5.25 to 5.5 percent at the moment. According to recent data, economic growth has been moderately fast. Significant job growth has occurred recently, and the unemployment rate has remained low. The rate of inflation is still high.
At a longer-term rate of 2%, the US Fed Committee seeks to achieve maximum employment and inflation. In order to further these goals, the Committee decided to raise the target range for the federal funds rate to 5.25–5.5%.
