Stock Market Live Updates: Sensex 200 pts up, Nifty Bank above 49,300 mark | Business News

Indian equity indices opened with minor dip on Thursday, despite positive cues from GIFT Nifty and US indices. At 9:15 am, GIFT Nifty is trading at 118.50 points, or 0.52 per cent higher at 22,737.50.

In the currency market, the Indian rupee opened flat at 83.42 per against US dollar on Thursday. The Indian currency had closed at 83.43 on Tuesday.

Powell further emphasized the US central bank wants greater confidence that inflation is moving towards its 2 per cent target range. He, however, didn’t explain what would entail later.

The US Fed has been kept rate steady since mid 2023.

In another major announcement, the Fed Chair announced that central bank will slow down the pace to shrink its balance sheet. As per him, the move is not being made to provide accommodation to the economy or be less restrictive. The decision comes after data indicates a stubborn inflation and lower GDP numbers. Powell, however, refused that US economy has entered a period of what some analysts describe as stagflation.