Dalal Street heads into the new week carrying the weight of two defining blows delivered in quick succession. The Federal Reserve raised rates by 25 basis points on 16 September, making it the Fed’s first hike since 2023, and signalled clearly that the job is not done, with most officials projecting at least one more move this year. The dot plot’s hawkish tilt sent the US 10-year yield surging toward 4.96%, squeezing the yield differential that attracts foreign capital into Indian equities and pushing the rupee to Rs 95.79 against the dollar.
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