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Santa Rally : US & Indian stocks edge up after widely expected fed rate hike | reuters

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Santa Rally : The Gap Up in US S&P 500 marks the beginning of the Santa Rally

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Santa Rally : US & Indian stocks edge up after widely expected fed rate hike | reuters

  1. 1. 17/12/15, 4:24 PMIndian stocks edge up after widely expected Fed rate hike | Reuters Page 1 of 4http://in.reuters.com/article/india-stocks-idINL3N14634I20151217 EDITION: SIGN IN REGISTERIN Search Reuters Protect your business Learn why security begins and ends with the network Related: INDIA MARKETSStocks | Thu Dec 17, 2015 2:21pm IST Indian stocks edge up after widely expected Fed rate hike * NSE index up 0.52 pct, BSE index higher 0.49 pct * GST, reforms in focus with Fed uncertainty out of way - traders Dec 17 Indian stocks edged up on Thursday, heading for a fourth consecutive session of gain after the U.S. Federal Reserve raised interest rates for the first time in nearly a decade and signalled its tightening cycle would be "gradual." The Fed's hike signalled faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis, although the central bank also made clear its stance would remain "accommodative." Gains tracked a rally in Asian markets, while India's volatility gauge VIX fell as much as 15.4 percent, heading for its biggest single-day fall since Sept. 18 and raising the odds for a December or 'Santa' rally. Investors also booked profit, capping broader gains, given uncertainty about the outlook for Indian markets in 2016 as the government continues its attempt to pass key reforms bills in parliament and earnings remain lacklustre. "The markets had factored this (Fed hike) in, the Santa rally which we had predicted is now happening," said Kapil Khandelwal, director at Equnev Capital. "But directionally we see 2016 being a down year for the markets, there's no major trigger in terms of corporate earnings." The broader NSE index was 0.52 percent higher, while the benchmark BSE index was up 0.49 percent. Both indexes kept slipping into the red only to recover soon after. Among stocks that gained, steel companies advanced after a government order to curb imports. Tata Steel rose 3.4 percent, while Steel Authority of India gained 4.3 percent. But declines in auto, consumer and select financial stocks slightly edged out gains in healthcare, utilities, industrials, and materials stocks. IDBI Bank shares rose 6 percent on a report that the government was planning to transfer the lender's bad loans to a separate entity. Mahindra and Mahindra continued to see some selling pressure and was down 0.2 percent, still absorbing the impact of a temporary ban on registering diesel vehicles in Delhi. TRENDING ON REUTERS Indian girl kills self over "Big Bang" fear: family 1 India fwd/annualised dlr premia-Dec 17 2 European Factors to Watch-Shares seen surging after Fed's move 3 CRISIL ratings for Indian debt instruments-Dec 17 4 CARE ratings for Indian debt instruments- Dec 17 5 HOME BUSINESS MARKETS INDIA WORLD TECH OPINION BREAKINGVIEWS MONEY SPORT & LIFE PICTURES VIDEO
  2. 2. 17/12/15, 4:24 PMIndian stocks edge up after widely expected Fed rate hike | Reuters Page 2 of 4http://in.reuters.com/article/india-stocks-idINL3N14634I20151217 (?) Prepare for Amount of Money You Need @ 60 With BigDecisions Calculator Bigdecisions.com ZipSIP is the quickest way to invest in Mutual Funds MyUniverse.co.in But What If RBI Does Cuts Rates? Move Beyond Your Ifs & Buts! Kotak Securities Free, get one of our best active trading systems for Forex & Futures NetPicks The Remittances Explainer: How it works, top markets & digital model Business Insider Sponsored Financial Content ONGC saw some profit-taking and fell 2 percent after Wednesday's 4 percent gain. (Reporting by Karen Rebelo in Mumbai; Editing by Subhranshu Sahu) U.S. HIKES RATES Traders suspect RBI intervened to support rupee, bonds, ahead of Fed Traders suspect the RBI bought bonds and actively intervened in the rupee to support sentiment ahead of the U.S. Federal Reserve's decision to raise interest rates, several market participants told Reuters. Full Article » 'Impact of Fed hike on India should be minimal' Fed move good for emerging markets: Finmin official Fed raises rates, citing ongoing U.S. recovery Fed ramps up new tool to pry rates higher Yellen says rate path will be well signalled (?) Agar RBI Ne Rates Kaatey Toh? Learn More with Kotak Securities! Kotak Securities The Remittances Explainer: How it works, top markets & digital model Business Insider ZipSIP is the quickest way to invest in Mutual Funds MyUniverse.co.in Estimate the monthly savings required to provide for your retirement Bigdecisions.com Free, get one of our best active trading systems for Forex & Futures NetPicks Sponsored Financial Content REUTERS SHOWCASE Congress seeks to exploit Gandhis' day in court Asia policymakers spared Fed jolt, look to support shaky economies More From Reuters India to allow more state-run companies to sell coal | 16 Dec Strong reviews put 'Star Wars' in reach of 'Jurassic' box office record | 17 Dec Unusual 'sail-backed' dinosaur roamed Spain 125 million years ago | 17 Dec China central bank sees economic growth slowing to 6.8 percent in 2016 | 16 Dec Insight - Chinese jade miners in overdrive ahead of new Myanmar government | 16 Dec To clear air, Supreme Court bans sales of big diesel cars in Delhi | 16 Dec North Korea sentences Canadian pastor to hard labour for life | 16 Dec Oil nears 11-year low on big U.S. supply build; Fed awaited | 16 Dec Fed raises interest rates, citing ongoing U.S. recovery | 17 Dec Insight - Vietnam builds military muscle to face China | 17 Dec From The Web by TaboolaSponsored Links Hotel Bargains Intel iQ Intel Fast & Comprehensive Hotel Price Comparison How Technology is Empowering Baby Boomers to Live Safer… GIANTS Software Optimizes Farming Simulator* 15 with Inte… See How You Can Mix Function Compare & Choose From Home … India's Smartest Parents Are
  3. 3. 17/12/15, 4:24 PMIndian stocks edge up after widely expected Fed rate hike | Reuters Page 3 of 4http://in.reuters.com/article/india-stocks-idINL3N14634I20151217 Back to top Reuters.com Business Markets India Technology Opinion Money Pictures Videos Site Index Mobile More from Reuters Reuters News Agency Brand Attribution Guidelines Delivery Options Support & Contact Support Corrections Account Information Register Sign In Connect with Reuters Twitter Facebook Linkedin RSS Newsletters About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, Barkha Dutt on India’s 'fault lines' and personal reinvention Slideshow: Pictures of the year: India Android App for India Download the Reuters app from Google Play and select the India edition for breaking news, analysis and market updates. Intel Bankbazaar Home Loan Eddy TabletWith Fashion Loans! Interest Rates Starts @… Using Eddy RECOMMENDED VIDEO Caballe sentenced over tax evasion Ranieri wants another five points while Jose Mourinho wants to stay at...
  4. 4. 17/12/15, 4:24 PMIndian stocks edge up after widely expected Fed rate hike | Reuters Page 4 of 4http://in.reuters.com/article/india-stocks-idINL3N14634I20151217 stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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