Stock market situation, US investors and traders await the country’s interest rate decision. The country’s monetary policy committee meeting is underway. Its outcome was largely predictable. Interest rate will not be hiked any further.
Likewise, it may not be cut immediately, but all investors are waiting for the pearls to fall from Jerome Paul’s mouth to see in which direction interest rate decisions will move. So our stock markets, which started with a decline in the morning, gradually gained strength and ended with gains in the evening.
Expectations are high on the Interim Budget to be presented today. Although new plans are unlikely to be announced, traders are paying attention to two pieces of data. One is the fiscal deficit estimate and the other is the amount of tax collected. Similarly, another expectation is that there may be some changes in the income tax rate. Thus, as Mogman told the Finance Minister, the markets lit up in green
A private report said the Center may expand the manufacturing-based incentive scheme, known as PLI, to textile, food processing and pharmaceuticals sectors.
Traders welcomed Union Minister Jitendra Singh’s announcement that India will emerge as the world’s third largest economy during Prime Minister Narendra Modi’s third term •
The Union Ministry of Chemicals and Fertilizers has informed that producers of potassium and potassic fertilizers are allowed to retain up to 12 per cent profit on their prices.
At the end of trading hours, sector stocks like autos, banks, healthcare, power, metals and real estate were the gainers. Capital goods stocks are not the only ones that have grown significantly.