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Markets gain after US Fed holds off raising rates

REUTERS
Published Sep 18, 2015, 3:33 pm IST
Updated Mar 27, 2019, 7:17 pm IST
The broader Nifty rose 1.3 percent to 8,006 points at 9:50 am
The broader Nifty rose 1.3 percent to 8,006 points at 9:50 am
 The broader Nifty rose 1.3 percent to 8,006 points at 9:50 am

Mumbai: India's stock markets, rupee and bonds gained on September 18 on rising expectations the Reserve Bank of India (RBI) will have scope to cut key lending rate later this month now that the US Federal Reserve has kept its interest rates unchanged.

The Fed on September 17 cited worries about the global economy as a key factor compelling it to keep its monetary policy unchanged for now.

 

Traders had feared a rate hike on Thursday would have sparked volatility in emerging markets and kept the RBI from cutting the repo rate for a fourth time this year at its policy review on September 29.

Also read:

Raghuram Rajan says faltering US, global economy behind Fed delay

Global economy worries prompt Fed to hold rates steady

What the Federal Reserve wants to see before raising rates

The broader Nifty rose 1.3 percent to 8,006 points at 9:50 am. The 8,000 level was last seen on August 31.

The benchmark 10-year bond fell 4 basis points to 7.71 percent, a level last seen on August 20.

 

The rupee was trading at 66.1950/2000 per dollar, from its previous close of 66.4550/66.4650.

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