Indian shares rise as Fed tapering signal boosts risk appetite
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BENGALURU - Indian shares rose on Thursday after a four-session losing streak, in line with global markets as a move by the U.S. Federal Reserve to end its bond-buying programme in March indicated confidence in economic recovery from pandemic shock.
The NSE Nifty 50 index was up 0.78% at 17,355 by 0345 GMT, while the benchmark S&P BSE Sensex rose 0.86% to 58,287.07.
Asian stocks followed Wall Street higher on Thursday after the Fed said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation. [MKTS/GLOB]
"The economy no longer needs increasing amounts of policy support," Fed Chairman Jerome Powell said in a news conference after the conclusion of the two-day policy meeting.
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