RIL, IT stocks lead rally; Sensex set to reclaim 58K mark
CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers
Goldman Sachs expects the US Federal Reserve to raise interest rates by 50 basis points each at its May and June meetings, following hawkish remarks by the central bank's chair Jerome Powell.
The Fed last week raised its benchmark interest rate by a quarter percentage point to a range of 0.25% to 0.5% from near zero
The dollar strengthened against a basket of major currencies on Monday, in the wake of comments from US Federal Reserve Chair Jerome Powell
Fed policymakers last week raised interest rates for the first time in three years and signaled ongoing rate hikes ahead
The dollar index, which measures the greenback against six peers, dipped 0.1% to 98.222
Spot gold rose 0.3% to $1,927.22 per ounce by 0528 GMT. U.S. gold futures were down 0.1% to $1,927.30
NEW YORK (Reuters) - The U.S. dollar index bounced back on Friday from recent declines following comments from Federal Reserve officials on interest rates that supported the currency, while the dollar was at a fresh six-year high against the yen and the euro eased.
Fed officials hiked interest rates this week for the first time in three years and signaled that more rate increases are coming
Benchmark indices zoomed 2% yesterday after the US Fed hiked rates for the first time in three years. However, analysts don't see the RBI moving the needle on rate hikes just yet
The US dollar fell on Thursday and hit its lowest in a week as investors digested the Federal Reserve's monetary policy outlook
Experts also said the sharp bounce in China's market is favourable for global equities
The dollar index, which measures the greenback's strength against six trading currencies, was down 0.5% at 97.997 and hit its lowest in a week
21 people have been killed by Russian artillery that destroyed a school and a community center in Merefa, near the northeast city of Kharkiv, officials said.
Analysts have also said investors in safe-haven gold will continue to closely track political and economic risks posed by Russia's invasion of Ukraine, which has entered its fourth week
Not all of the Fed's efforts to tighten monetary policy have worked the same way.
The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year
US central bank sees more rate hikes in 2022 and 2023, says there is need to limit inflation hit for families.
A stronger euro overshadowed the dollar index that has gained during the war in Ukraine.