Sensex, Rupee get booster as US Fed hikes rate
Reports quoted analysts as saying that the US Fed's 25-basis-point rate hike was already factored in by the Indian markets. The BSE Sensex and Nifty had hit 3-month lows last week while the rupee hit over two-year lows beyond 67/dollar as foreign investors withdrew heavily from Indian markets in anticipation of Fed rate hike.
FIIs have withdrawn nearly $2.5 billion from domestic markets since November. Now that the actual announcement has come, things are likely to calm down, analysts say.
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