Sensex, Rupee get booster as US Fed hikes rate
Reports quoted analysts as saying that the US Fed's 25-basis-point rate hike was already factored in by the Indian markets. The BSE Sensex and Nifty had hit 3-month lows last week while the rupee hit over two-year lows beyond 67/dollar as foreign investors withdrew heavily from Indian markets in anticipation of Fed rate hike.
FIIs have withdrawn nearly $2.5 billion from domestic markets since November. Now that the actual announcement has come, things are likely to calm down, analysts say.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
