India's equity benchmarks opened higher on Monday tracking gains in other Asian peers after U.S. Federal Reserve Chair Jerome Powell hinted at an interest rate cut next month.
The Nifty 50 was up 0.28% at 24,939.15 points and the BSE Sensex added 0.29% to 81,542.95 as of 9:18 a.m. IST.
Twelve of the 16 major sectors advanced. The broader mid-caps and small-caps advanced 0.4% and 0.3%, respectively.
On Friday, Powell signaled the possibility of a rate cut at the Fed's September meeting, saying that risks to the job market were rising but also noting that inflation remained a threat and that a decision wasn't set in stone.
Lower U.S. rates make emerging markets, including India, more appealing to foreign investors, and weigh on the Treasury yields and dollar.
Sumber : Reuters
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