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Budget is a non-event for equity markets, say experts, as indices traded flat with negative bias.PSU Bank stocks rallied as bond markets cheered FM’s fiscal
(This story has not been edited by THE WEEK and is auto-generated from a PTI
In its December 2023 policy, the US Fed had signalled that it may start cutting interest rates as early as March this year. However, on January 16, Federal Reserve System’s Governor Christopher J Waller said that interest rate cuts need to be calibrated and not rushed, which dampened the hopes of early rate cuts by the US central bank.
BSE Sensex surged 612.21 points, or 0.86 per cent, to settle at 71,752.11, while NSE's Nifty50 index advanced 203.60 points, or 0.95 per cent, to end the session at 21,725.70.
Selling intensified towards the fag end as investors further slashed their positions in key stocks ahead of the Budget while weakness in several Asian indices also contributed to the overall fall