Sensex, Nifty End Higher Ahead Of Fed Minutes
(RTTNews) - Indian shares eked out modest gains on Tuesday as global bond yields and the U.S. dollar continued to edge lower on dovish Fed expectations.
The dollar fell to a more than two-month low, reflecting investor optimism that the U.S. Federal Reserve will leave rates unchanged at upcoming meetings.
CME Group's FedWatch Tool currently indicates the Fed is likely to remain on hold until cutting rates beginning in mid-2004.
Signs of easing U.S.-Sino tensions and optimism over a recovery in China's property sector also helped underpin investor sentiment ahead of the minutes from Federal Reserve's latest meeting due later in the day.
The benchmark S&P BSE Sensex rose 275.62 points, or 0.42 percent, to 65,930.77 while the broader NSE Nifty index ended up 89.40 points, or 0.45 percent, at 19,783.40.
JSW Steel, Hindalco, Adani Enterprises, HDFC Life and SBI Life jumped 2-3 percent in the Nifty pack, while Tech Mahindra and BPCL fell around 1 percent each.
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