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Wall Street's main indexes closed higher on Friday, securing a weekly gain fueled by FedEx's strong earnings and positive sentiment in the technology sector. Optimism surrounding AI-linked stocks and the Fed's anticipated rate cuts further boosted the market. However, concerns arose from a blocked funding bill and Lennar's disappointing forecast, adding a layer of caution to the overall positive trend.
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India's foreign exchange reserves have surpassed $700 billion, reaching $702.966 billion after a $4.698 billion increase in the week ending September 12, according to RBI data. These reserves provide import cover for approximately 11.5 months.
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Indian equity indices experienced a decline of nearly 0.5% on Friday, ending a three-day winning streak due to US sanctions relief revocation concerning the Chabahar port. Despite Friday's dip, the indices concluded the week 0.8% higher, marking the third consecutive week of gains. Investors engaged in profit booking amidst tariff negotiation uncertainties, influencing market caution.
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