Bulls charge on D-Street as Fed signals three rate cuts
Business Standard|March 22, 2024
The domestic equity markets on Thursday rose, joining a global rally, as the US Federal Reserve projected faster than expected growth for the American economy and at the same time stuck to its plan to reduce borrowing costs.
SUNDAR SETHURAMAN
Bulls charge on D-Street as Fed signals three rate cuts

The Sensex closed at 72,641, gaining 539 points, or 0.7 per cent. The Nifty finished at 22,012, with a gain of 173 points, or 0.8 per cent.

The market capitalisation of BSE-listed firms rose 5.7 trillion. The broader markets outperformed with the Nifty Smallcap 100 and Midcap 100 indices rising around 2.5 per cent each.

The US Federal Reserve on Wednesday kept the rates unchanged in the range 5.25-5.5 per cent, the highest since 2001, for a fifth time in a row. But they kept their outlook for three rate cuts this year. There were doubts about the outlook for rate cuts after the recent inflation. However, Fed Chairman Jerome Powell stressed that Fed officials would like to see more evidence that the inflation rate was headed toward its 2 per cent goal before they could start reducing rates this year.

هذه القصة مأخوذة من طبعة March 22, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة March 22, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS STANDARD مشاهدة الكل
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