Indian Shares, Rupee Set To Open Higher After Fed Hikes Interest Rate

The Fed hiked the policy rate by 25 basis points, in-line with expectations while leaving the door open to further rate increases.

Indian shares and the rupee are expected to open marginally higher today helped by the US Federal Reserve policy raising its benchmark lending rate.

Both the Nifty and Sensex had advanced on Wednesday, led by gains in heavyweights Reliance Industries on report of Qatar Sovereign fund's interest in its retail arm and Larsen & Toubro on strong earnings.

The Fed hiked the policy rate by 25 basis points, in-line with expectations while leaving the door open to further rate increases. Fed Chair Jerome Powell at the press conference said it was "certainly possible" that the US central bank would raise at the September meeting if the data warranted.