Sensex, Nifty Climb On Dovish Fed; IT Stocks Rebound

RTTNews | 162 dni temu
Sensex, Nifty Climb On Dovish Fed; IT Stocks Rebound

(RTTNews) - Indian shares opened on a buoyant note Thursday after the U.S. Federal Reserve held interest rates steady, as widely expected, and signaled the possibility of two rate cuts by the end of the year, given increased uncertainty around the economic outlook.

The Fed also lowered its economic outlook for the year, marked up its inflation expectations and said it will start shrinking its balance sheet at a slower pace starting next month amid growing worries around tariffs.

The benchmark 30-share BSE Sensex was up 456 points, or 0.6 percent, at 75,905 in early trade while the broader NSE Nifty index jumped 130 points, or 0.6 percent, to 23,037.

IT stocks topped the gainers list after an investor event reassured markets about demand for artificial intelligence computing.

HCL Technologies, TCS, Infosys and Wipro climbed 2-3 percent.

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Chicago Business Barometer Slumps Much More Than Expected In August

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MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
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Pound Slides Against Majors

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FTSE 100 Weak Again, Looks Headed For Weekly Loss

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U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.
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