Equity benchmarks recouped early losses to trade higher with the Nifty holding 8200 level as Federal Reserve acted in line with expectations. Technology and banks stocks helped the market recover while FMCG and select pharma stocks were under pressure.
Johanna Chua of Citi says investors are likely to persist with long USD strategies against emerging market currencies, reloading these trades in the instances where they prematurely took profits, and joining the consensus where they were previously skeptical or were merely waiting for better entry levels.
