Kolkata: The US Federal Reserve concluded a two-day has meting to announce that it is holding the key interest rates steady at 4.25%-4.5%, attributing the wait-and-watch attitude to economic uncertainty originating from the recent tariff war of Washington. Incidentally, US President Donald Trump, career businessman, has a well-known position in favour of lower interest rates.

If a rate cut was announced, it would have been a positive for the Indian stock markets since a lower rate encourages foreign investors to invest in emerging markets looking for better returns and the Indian market has been one of their preferred destinations over the past several months. On May 7, despite the heightened geo-political tension in this region after India struck terror camps in Pok and Pakistan, Sensex 30 closed at 80,746.78, up 106.71 points or 0.13%, while Nifty 50 ended at 24,414.80 points, up 34.80 points........

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