Domestic stocks edged higher today, with the Sensex and Nifty gaining around 0.7% each. This resilience comes despite a shift in expectations for US rate cuts. The stronger-than-anticipated US economy has some believing the Fed may only cut rates twice this year, down from earlier projections of seven. However, global market optimism continues to buoy Indian equities. All eyes are now on the upcoming Q4 earnings season, with IT giant TCS kicking things off on April 12th. Investors favored auto, oil & gas, and realty stocks today, while PSU banks and IT stocks saw some selling pressure.
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