Indian stock indices extend gains for third straight session

ANI
24 Nov 2022, 16:03 GMT+10

New Delhi [India], November 24 (ANI): Indian stock indices extended their gains for the third straight session in line with the latest strength in US stock markets.

The minutes of the US Federal Reserve's latest monetary policy review meeting which showed a substantial majority of members judged that a slowing in the pace of increase in policy rates would "soon be appropriate" also supported stock markets.

"A slower pace in these circumstances would better allow the Committee to assess progress toward its goals of maximum employment and price stability," the US Fed minutes published on Wednesday (local time) said.

At the time of writing this report, Sensex traded at 61,828.47 points, up 317.89 points or 0.52 per cent, whereas Nifty traded at 18,370.30 points, up 103.05 or 0.56 per cent.

"U.S. stock indexes finished higher for a second day on Wednesday in a choppy session after the latest meeting minutes from the Federal Reserve showed most policymakers expect a slower pace of interest rate hikes will "soon be appropriate", even if they are uncertain how high the benchmark rate will rise," said Deepak Jasani, Head of Retail Research at HDFC securities.

The rupee too appreciated marginally this morning. It opened at 81.72 against the US dollar versus Wednesday's closing of 81.85.

In October, the rupee breached the 83 mark for the first time in its history. So far this year, the rupee has depreciated around 8-9 per cent. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Peking Press.

More Information

-10 ℃

Fair in Beijing/Capital

Business

Section

Amtrak reports jump in riders, increased spending on infrastructure

WASHINGTON D.C.: According to U.S. rail company Amtrak, its ridership has nearly returned to pre-COVID-19 levels, rising by more than ...

Survey: Japanese manufacturing contracts for first time in 2 years

TOKYO, Japan: The results of a survey released this week showed that Japan's manufacturing activity contracted for the first time ...

CNN informs employees that layoffs are underway

ATLANTA, Georgia: As companies look to rein in costs and trim their headcount to brace for an economic slowdown, CNN's ...

US single-family home prices fall in September

CHICAGO, Illinois: Amidst higher mortgage rates, which are curbing demand, several surveys showed that U.S. single-family home prices slowed again ...

U.S. stock markets take a back seat, Nasdaq Composite retreats 21 points

NEW YORK, New - U.S. stocks were little changed at the close Friday after a volatile week.A labor report released ...

HSBC sells holdings to Royal Bank of Canada

HONG KONG: Paving the way for a potential bumper payout to shareholders, HSBC has agreed to sell its business in ...

China

Section