Reaction on US Fed to hold its key rates unchanged: CapitalVia Global Research Ltd.

US Fed hold the rate cut, PFB reaction from Mr. Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd.

Emerging markets cheered the Fed's decision to interest rate hike to put on hold in meeting meeting ended yesterday. Asian market is trading firmly post announcement. Higher US interest rates would have reduced the attraction of riskier emerging-markets assets like India. The US Federal Open Market Committee's decision (FOMC) to hold its key rates unchanged, for now, gives another reason to Reserve Bank of India governor, to lower the central bank's key rates in the September 29 policy review. Nifty Sept Fut Opened in green and It managed to cross the 8000 mark. If it manages to sustain above the levels of 8000-8050 Nifty may test the levels of 8320 and above 7955 will act as a crucial support level.

Source : Equity Bulls

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