Indian stock indices extend gains for third straight session

Indian stock indices extended their gains for the third straight session in line with the latest strength in US stock markets The minutes of the US Federal Reserve s latest monetary policy review meeting which showed a substantial majority of members judged that a slowing in the pace of increase in policy rates would soon be appropriate also supported stock markets At the time of writing this report Sensex traded at 61 828 47 points up 317 89 points or 0 52 per cent whereas Nifty traded at 18 370 30 points up 103 05 or 0 56 per cent U S stock indexes finished higher for a second day on Wednesday in a choppy session after the latest meeting minutes from the Federal Reserve showed most policymakers expect a slower pace of interest rate hikes will soon be appropriate even if they are uncertain how high the benchmark rate will rise said Deepak Jasani Head of Retail Research at HDFC securities The rupee too appreciated marginally this morning It opened at 81 72 against the US dollar versus Wednesday s closing of 81 85 In October the rupee breached the 83 mark for the first time in its history So far this year the rupee has depreciated around 8 9 per cent