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 Japan Herald.

More Information

14 ℃

Fair in Shinagawa City

Asia Pacific

Section

Economies on agenda as China's Xi visits Saudi Arabia

RIYADH, Saudi Arabia: This week, Chinese President Xi Jinping is visiting Saudi Arabia, as the Middle East is increasingly looking ...

New Zealand laws to require Facebook, Google to pay for news

WELLINGTON, New Zealand: The government of New Zealand said it will introduce a law requiring major online digital companies, such ...

After years of upheaval, US judge throws out Huawei fraud indictments

NEW YORK City, New York: Last week, a U.S. judge has dismissed an indictment against the chief financial officer of ...

Japan announces increase of up to 43 trillion yen in defense spending

TOKYO, Japan: Beginning in April, Japan will allocate 40 trillion to 43 trillion yen ($295 billion-$318 billion) over five years ...

After Chinese bypass solar panel tariffs, US plans new restrictions

WASHINGTON D.C.: The U.S. Commerce Department gas says new duties on imports from some major Chinese solar panel makers will ...

Recovery in travel industry helps AirAsia limit 3rd quarter losses

SINGAPORE: Benefiting from a strong rebound in travel and the easing of pandemic-related restrictions in Southeast Asia, the parent company ...

Business

Section