The NSE Nifty climbed 0.9% or 205 points, to close at 23,163. The BSE Sensex gained 0.8%, or 631 points, to 76,532. Upsides in the broader market were stronger with the Midcap 150 index and the Smallcap 250 index surging 2.4% and 3.2%, respectively - the largest single-day gains in seven months.
The Fed reduced its rate last year to 4.3% from 5.3%, in part out of concern that the job market was weakening. Hiring had slowed in the summer and the unemployment rate ticked up, leading Fed officials to approve an outsized half-point cut in September. Yet hiring rebounded last month and the unemployment rate declined slightly, to a low 4.1%.
A Dubai-based developer plans to build a 12-story luxury condominium project on the South Florida site where a building collapsed in 2021, killing 98 people.
Developers say new downtown construction wont grind to a halt. Some projects will score financing and the number of apartments completed in the neighborhood is expected to increase in 2026 and 2027.
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.
The government will announce its long-term economic reforms approach in the coming months to sustain high growth rates, focusing on private investment, public-private partnerships in infrastructure, and continuous policy reviews. Infrastructure development and prudent energy transition will be key elements of this agenda.
Tax season is underway, and the IRS expects 140 million people will file returns by April 15. The agency has also debuted a new online tool to help taxpayers check the status of any refund they may be entitled to.
