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

Mumbai’s Street MBA: How A Bag Hustle Became A ₹8 Lakh Business

A Mumbai auto driver earns up to ₹8 lakh per month by offering a simple…

52 mins ago

Five Districts In Manipur Face Internet Shutdown Following Unrest

Manipur suspended internet in five districts for five days after protests over arrest of a…

2 hours ago

Shashi Tharoor Criticises Pakistan: “In Pakistan You Get Rewarded For Promoting Terrorism”

Shashi Tharoor condemns Pakistan’s treatment of Dr Shakil Afridi, who helped the US locate Osama…

2 hours ago

How To Read Food Labels & Make Smarter Grocery Choices

Reading food labels helps you make informed, healthier choices by understanding nutrition facts & picking…

2 hours ago

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

15 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

15 hours ago