Domestic Markets Put Up A Vibrant Show

In contrast to the majority of the global indices that witnessed a significant decline following the Federal Reserve’s 75 basis point interest rate hike, Indian domestic indices stood strong.

In contrast to the majority of the global indices that witnessed a significant decline following the Federal Reserve’s 75 basis point interest rate hike, Indian domestic indices stood strong.

Major economies reporting better-than-expected inflation data has resulted in optimistic global cues, which in turn helped Indian benchmark indices, Sensex and Nifty 50, gain by nearly 2 per cent over the course of a fortnight. Following the lead of the major indices, the BSE Mid-Cap and BSE Small-Cap indices surged and ended the fortnight with gains of 0.42 per cent and 0.58 per cent, respectively. In contrast to the majority of the global indices that witnessed a significant decline following the Federal Reserve’s 75 basis point interest rate hike, Indian domestic indices stood strong. On the other side, the indices soared almost 2 percent as the US Consumer Price Index (CPI) experienced a significant decline.