Indian Markets Surge Amid Global Optimism: Fed Interest Rates Hold Steady

The Indian stock market experienced a robust opening on Tuesday, propelled by favorable global signals and investor trust in the US Federal Reserve's stand on interest rates. Key indices Sensex and Nifty saw significant gains, with market sentiment lifted by expectations of the Fed maintaining its interest rate stance.

The Indian stock market opened strongly on Tuesday, buoyed by favorable global clues and investor confidence in the US Federal Reserve's decision to likely maintain current interest rates. The Sensex index surged 388.45 points, starting at 74,558.41, while the Nifty index climbed by 153.50 points to reach 22,662.25.

Among Nifty's listed companies, 43 stocks advanced while seven declined in early trading hours. Top gainers included major names like Hindalco, ICICI Bank, and M&M, whereas HCL Tech and TCS were among the leading losers. Optimism grew amid expectations that the Federal Open Market Committee would sustain its interest rate stance.

Market analyst Ajay Bagga highlighted the significance of this week with ten central banks, including the Federal Reserve, releasing their interest rate decisions. He noted, "A 99% probability remains priced for a 'hold' by the FOMC." He also underscored strong US retail sales as a bolster for US and Asian markets, although potential fluctuations post-FOMC announcement were anticipated.

(With inputs from agencies.)