Indian shares were little changed on Friday, as a slide in high-weightage IT stocks offset optimism due to improved sentiment from the increased probability of a rate pause from the U.S. Federal Reserve.
Wall Street and Asian equities rose as odds of a rate pause in the Fed's upcoming meeting on June 14 increased to 75% from 66%, after dataInvestors are also awaiting key rate decisions from the European Central Bank and Bank of Japan next week.the repo rate at 6.50% for a second straight meeting on Thursday but indicated that monetary conditions will remain tight to bring inflation down to the 4% target.
Despite the profit-booking in interest-rate sensitive stocks after the RBI decision, analysts said the near-term outlook for the benchmark Nifty 50 remained positive. "Expect Nifty to gradually move towards an all-time high, supported by lower volatility, stable macroeconomic fundamentals and consistent foreign buying," said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services.rose as much as 4.91% to a 10-month high after global brokerage CLSA reiterated "buy".jumped over 7% to a record high after the specialty chemicals maker signed a license agreement with Saudi Aramco Technologies Company.
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil, Sohini Goswami, and Janane Venkatraman
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