Indian stocks extend gains after US Fed’s tough monetary policy approach
New Delhi (India), November 3 (ANI): Indian stock indices continued their gains from the previous session, in line with global stocks, after the US central bank’s less hawkish stance on the monetary policy front.
Earlier this week, the US Federal Reserve kept its benchmark rate unchanged for the second time in a row, between 5.25 and 5.50 percent. Fed Chairman Jerome Powell said recent indicators suggest economic activity has been growing at a healthy pace, well above initial expectations.
As of 9:21 am, benchmark indices Sensex and Nifty were up 0.6 percent from their close on Thursday. Sensex is currently hovering around 64,450 points, almost 2,500 points lower than its July high.
Of the 50 stocks in the Nifty 50, as many as 47 were higher in early trade today, with the remaining three in the red. Specifically to stocks, Apollo Hospitals, Tata Motors, Tech Mahindra, Hindalco and Adani Ports were the top five gainers, in the range of 1.4 to 3.6 percent.
Furthermore, the 13 sectoral indices were in the green on Friday, the last trading session of this week. (ANI)
