Business

Indian Stocks Strengthen Ahead Of Fed’s Interest Rate Decision

Prior to the US Federal Reserve’s rate announcement on Wednesday, Indian Stocks increased as worries about a banking crisis subsided further in the wake of Credit Suisse’s bailout.

In early trade, the S&P BSE Sensex increased 0.17% to 58,168.80 while the Nifty 50 index increased 0.18% to 17,137.60.

Auto stocks and public sector banks saw gains of 0.7% and 1%, respectively, leading 12 out of the 13 key sectoral indexes higher.

Following the collapses of Silicon Valley Bank and Signature Bank, U.S. Treasury Secretary Janet Yellen committed to protecting depositors in smaller banks, causing global markets to soar.

For the time being, the Swiss government-backed takeover of Credit Suisse by UBS over the weekend alleviated fears about financial stability.

In the midst of banking contagion worries, markets throughout the world are awaiting the Fed’s decision. The probability of a 25-basis-point (bps) increase is 89.3%.

Also read: Hindustan Zinc Announces Fourth Interim Dividend Of Rs. 26 Per Share For FY23

Spriha Rai

Recent Posts

Stampede During Jagannath Rath Yatra In Puri Claims Three Lives

Three devotees, including two women, lost their lives and ten others were injured in a…

4 mins ago

Odisha CM & Gautam Adani Discuss Future-Ready Infrastructure

Gautam Adani visits to Chief Minister Mohan Charan Majhi at State House of Odisha to…

17 mins ago

Earthquake Of Magnitude 5.3 Shakes Punjab Region Of Pakistan

A shallow 5.3-magnitude earthquake struck central Pakistan’s Punjab province early on Sunday, with tremors felt…

27 mins ago

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

11 hours ago

Acharya Pramod Krishnam Slams Congress Over ‘Internal Emergency’ Allegation

Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…

11 hours ago

MRM Meeting: Pledge for Global Peace, Green India, De-addiction & Democratic Integrity

Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…

11 hours ago