Indian equity markets witnessed profit-taking after the Nifty crossed the 18000 mark and the Bank Nifty hit a fresh all-time high as global cues were not supportive at all. We were showing resilience despite weak global cues but we can’t remain isolated for long. As a result, traders booked out some profit over the weekend. The global markets are looking nervous after US inflation numbers, which have caused the dollar index to hover around 110. US 10-year bond yields are at a multiyear high of 3.5%, and now everyone eyeing the outcome of the upcoming US FOMC meeting, which is scheduled for September 22nd. On the same day, the Bank of England will announce its interest rate decision.
(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)