Indian shares are set to open higher on Thursday, tracking a rally in global equities after a softer-than-expected U.S. consumer inflation print raised expectations of at least two interest rate.
Indian shares are set to open higher on Thursday, tracking a rally in global equities after a softer-than-expected U.S. consumer inflation print raised expectations of at least two interest rate.
Indian benchmark indices, BSE Sensex and Nifty50, rose on positive global cues after US consumer inflation data. Nifty IT index surged 1.6%, led by Mphasis, Tech Mahindra, and Infosys. Nifty Pharma lagged, while Jindal Stainless fell 10% on softer steel prices. Markets expect two rate cuts in 2024, based on CMEGroup s FedWatch tool.
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