The S&P has been in a bear market since plummeting early this year as investors priced in the expectation of aggressive Federal Reserve interest rate hikes, but the index has rallied strongly since June, regaining half its losses for the year.
The rupee hit a one-week high as expectations of RBI measures to curb oil refiners’ dollar demand boosted sentiment and eased pressure on the currency.
Gold and silver prices opened higher on MCX as easing geopolitical tensions and US-Iran peace talk hopes influenced sentiment. Silver gained sharply while gold held
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