Fed Outcome News Today

The currency held in a tight range of 83.3850 and 83.4050 through the session as the central bank likely intervened to prevent the rupee from dropping further, five traders said.

From the Sensex stocks, Tata Motors, Bajaj Finserv, Tata Steel, Bajaj Finance, and ITC opened higher, while Airtel, M&M, Sun Pharma, Maruti, and Infosys opened with cuts.

The Feds outlook for future policy actions and view on inflation will be critical, particularly in the backdrop of the recent surge in bond yields. For 2024, Fed officials had revised their interest rate projections, expecting the federal funds rate at 5.00-5.25% by the end of 2024.

Nifty futures on the Singapore Exchange quoted 18 points, or 0.10 per cent, lower at 18.237, hinting at a muted start for the domestic market on Wednesday.