Indian shares open flat as fading hopes of early US rate cut weigh
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2024
0mins
Source: reuters
- Indian Stock Market: Indian shares opened steady after the Federal Reserve's policy minutes hinted at no early rate cut.
- Market Performance: NSE Nifty 50 was slightly up, while S&P BSE Sensex showed a minimal increase.
- Asian Markets: Asian markets started lower, with the MSCI Asia ex-Japan index dropping by 0.3%.
- U.S. Stock Indexes: All major U.S. stock indexes closed lower following the Fed's concerns about inflation and interest rates.
- Sectoral Performance: Nifty IT stocks remained flat, metal stocks dropped by 0.5%, and Power Grid Corporation of India reported a 3% loss in profit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
