Indian markets rally following Fed's unchanged rate announcement

  • Stock Market News
Indian markets rally following Fed's unchanged rate announcement
Credit: © Reuters.

Indian markets experienced a surge on Thursday as the US Federal Reserve announced that key rates would remain unchanged, signaling a possible end to the recent cycle of rate hikes. Key market indices such as the S&P BSE Sensex and NSE Nifty 50 saw significant gains in response to the announcement.

In addition to the overall market uptick, specific companies also experienced stock surges on Thursday. Britannia Industries and Dabur India saw their stocks rise after exceeding their quarterly results estimates.

GAIL, a gas distribution company, also saw an increase in its stock price by 3.91%. This surge came after the company finalized a propane supply agreement with Bharat Petroleum Corp, further fueling positive sentiment within the market.

The market's positive response is in line with the broader trend of decreased volatility and steady growth observed recently. The Federal Reserve's decision to keep key rates unchanged and its potential implications for future rate hikes were clearly reflected in the market's response.

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