Domestic markets benefit from 50 basis point reduction in interest rates by US Fed: ICRA Analytics

economictimes.indiatimes.com:

equity markets went up in September 2024 after the U.S. Federal Reserve lowered interest rates by 50 basis points, which led to expectations of further monetary policy easing in the coming months.

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The gains were extended amid reports that China may cut interest rates by 50 bps on $5 trillion mortgages to boost demand in real estate and commodity markets. The decline in global crude oil prices further contributed to the market upside, according to a release by ICRA Analytics.

In the domestic debt market, bond yields fell after the U.S. Federal Reserve kicked off its interest rate cut cycle, with a significant reduction of 50 bps. Yields fell further driven by global interest rate changes and increased demand due to government bonds being added to the global index. However, gains were capped after the central government upheld its borrowing plan as budgeted, defying the market participants’ expectations of a reduction.

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According to the release, the following trends were spotted in different mutual fund categories in September 2024.

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