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Fed Leaves Rates Unchanged; Can The Nifty Extend Gains For Third Day?
Desc – Global markets saw mixed cues as the US Federal Reserve kept interest rates unchanged, with Chair Jerome Powell saying the Fed is “well-positioned” to decide on future cuts while strongly reaffirming central bank independence and urging successors to stay out of elected politics.
Asian markets traded mostly mixed following the Fed outcome, while GIFT Nifty signalled a negative start for Indian equities. US futures slipped amid cautious sentiment and big-tech earnings.
On Wall Street, markets closed mixed with the S&P 500 ending in the red. Microsoft shares fell on signs of slowing cloud growth and lighter margin guidance, while Tesla beat estimates but reported its first-ever annual revenue decline. Meta, however, surged after posting strong earnings.
Bond yields climbed, with the US 10-year yield rising to around 4.25%, while the US dollar rebounded after Treasury Secretary Bessent dismissed reports of potential yen intervention. Chandan Taparia – Senior Vice President & Head, Derivatives and Technical Research, Motilal Oswal