- Indian markets traded lower as
SGX Nifty , an early indicator of the market, was down 0.15%. - The
US Fed ’s meeting minutes have given mixed signals and made it difficult to anticipate its next rate hike move. Sensex was down 247 points to trade at 60,012 andNifty50 was trading 73 points lower at 17,870.
The US Fed meeting minutes were released yesterday and it brought back recession fears. The stocks of IT and pharmaceutical companies which depend on the US for most of their business, went down and dragged the indices with it.
Sensex was down 247 points at 60,012 and Nifty50 was trading at 73 points lower at 17,870.
“As the stance of monetary policy tightened further, it likely would become appropriate at some point to slow the pace of policy rate increases while assessing the effects of cumulative policy adjustments on economic activity and inflation,” according to US Fed minutes.
Following the release of Fed minutes, treasury yields rose and equity markets witnessed some losses.
The fact that the central bank is committed to raising rates to tame inflation and also slow its pace if necessary — have given mixed signals and have made it difficult to anticipate the Fed’s next move.
SEE ALSO: