Indian markets hold steady after US Federal Reserve rate hike
Business
Indian stock markets barely flinched after the US Federal Reserve raised interest rates for the first time in three years.
The Nifty edged up by 0.2% and Sensex slipped marginally, showing that investors weren't too rattled, even as foreign investors kept selling.
Domestic institutions offset foreign outflows
US bond yields actually dropped below 5% and oil prices cooled off a bit, which gave Indian markets some breathing room.
Domestic institutions stepped in to buy more stocks than foreigners sold, helping offset outflows.
Meanwhile, midcap and small-cap indices gained ground, and market volatility fell sharply: signs that most investors are staying cool despite global pressures.