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The Week That Was - 30 Oct:Indian Markets Rebound as Fed Holds Rates
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The Week That Was - 30 Oct:Indian Markets Rebound as Fed Holds Rates
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About this listen
In this week's episode of The Week That Was, we break down key global and domestic market developments:
- Global Markets: The US Fed held rates at 3.75–4%, with two members favouring a hike, while the ECB and Bank of Japan also kept rates unchanged. US GDP grew an annualised 3.4% in Q3, oil hovered around $118/bbl after a tanker attack in the Strait of Hormuz, and the US midterm elections are now in focus.
- India Macro & Economic Data: Industrial production grew 6.7% YoY in September, below expectations, while the fiscal deficit for April–September reached 42.1% of the full-year target. Forex reserves fell for to around $720bn.
- Domestic Equities & Sectors: The Nifty and Sensex rose about 2% and 1.8%, helped by lower US yields after the Fed's decision, while midcaps and smallcaps gained 2.7% and 4.1%. Every sector ended higher, with Pharma leading on strong quarterly results.
Speaker:
Michelle Castellino
Investment Strategist
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