Foreign investors have pulled out more than $1.5 billion from local stocks so far in November, adding to $11 billion of outflows in the previous month.
India appears to be in a comparatively stronger position than many of its Asian peers, owing to its lower dependency on trade with China, according to a report by Emkay.
The Federal Open Market Committee (FOMC) lowered its benchmark overnight borrowing rate by 25 basis points (bps) to a target range of 4.50%-4.75% at its November meeting on Thursday.
Fed Chair Jerome Powell said the US central bank is pursuing interest rate cuts, while monetary policy remains tight. Powell further stated that the Fed will continue assessing data to determine the "pace and destination" of interest rates as inflation has slowed nearing the Fed’s 2% target.
According to the CME FedWatch Tool, the possibility of a quarter-point December rate reduction rose to more than 68% following the Fed meeting, while the odds of a pause declined to nearly 32%.
The US Initial Jobless Claims for the week ending October 25 increased to 221K, the US Department of Labor (DoL) showed Thursday. This figure matched initial estimates and was higher than the previous reading of 218K (revised from 216K).
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