Governor Christopher Waller said that the battle to reach
Fed's 2% inflation target "might be a long fight," while
Governor Lisa Cook was optimistic of a "soft landing." In a
speech on Tuesday, Fed Chair Jerome Powell underlined that
"disinflation" was underway.
Asian markets fell, with the MSCI's broadest index of
Asia-Pacific shares outside Japan sliding 0.06%. Indian shares settled higher on Wednesday after the Reserve
Bank of India delivered an expected 25 basis points rate hike.
Foreign institutional investors sold net of 7.37 bln rupees
($89.19 million) in shares on Wednesday, while domestic
institutional investors bought 9.41 bln rupees worth of
equities.
STOCKS TO WATCH
** Adani Power : Co reports slide in consolidated
net profit in Q3, dragged by rise in fuel costs.
** Larsen & Toubro : Ministry of Defence signs
contract with co to procure 41 indigenous modular bridges worth
25.85 bln rupees for Indian Army.
** Gujarat Pipavav Port : Co reports rise in
consolidated net profit in third quarter.
** Cummins India : Co reports a rise in
consolidated net profit in the third quarter, approves an
interim dividend of 12 rupees per share for FY2022-23.
($1 = 82.6370 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Dhanya Ann Thoppil)
