Washington: The US Federal Reserve raised the interest rate by 0.75 percentage points, the highest on-shot increase since 1994, to tackle inflation that is at its highest in 40 years. The rate hike was announced at the end of the two-day policy meeting of the fed. It ran contrary to smaller rate hikes of 0.50 percentage […]
IndusInd Bank was the top loser in the Sensex pack, shedding 2.91 per cent, followed by Dr Reddy's, NTPC, Maruti, Bajaj Auto, Axis Bank, Bharti Airtel and HDFC.
The index for all items excluding food and energy rose 3.8 per cent over the last 12 months, the largest increase since the period ending June 1992, according to the Labour Department.
At the interbank foreign exchange, the domestic unit opened at 73.29 against the dollar, then inched higher to quote 73.26, a rise of 5 paise over its previous close of 73.31 on Tuesday.
The central bank pledged to continue its asset purchase program at least at the current pace of $120 billion per month until the economic recovery makes "substantial further progress".
Foreign portfolio investors (FPI) invested a net Rs 25,787 crore into equities but pulled out Rs 2,124 crore from the bonds market during February 1-26, the depositories data showed.
