There had been a fourth consecutive hike of 75 basis points magnitude before the most recent increase of 50 basis points.
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The Indian stock market indices have started the new week’s trading on a high note with the help of global cues.
In the opening session, Sensex traded at 60,668.80 points, up 768.43 points or 1.28 percent, while Nifty traded at 18,078.75 points, up 219.30 points or 1.23 percent.
With the exception of Nifty Consumer Durables, all other Nifty sectoral indices were in the black, with Nifty IT leading the field. Nifty IT increased by more than 2%.
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Interest rates were recently increased by 50 basis points by the US Federal Reserve (bps). The policy rate of the central bank is currently at 4.25 to 4.50 percent, which is the highest level in 15 years. In the beginning of 2022, it was quite close to zero.
There had been a fourth consecutive hike of 75 basis points magnitude before the most recent increase of 50 basis points.
According to statistics from the National Securities Depository (NSDL), foreign investors have sold shares of Indian companies worth Rs 5,872 crore so far in January.
They together liquidated assets in 2022 for Rs 121,439 crore.
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