The market has gone back to yesterday’s levels after intial jump in early trade. The Nifty is 7750.90 and the Sensex is down 4.38 points at 25489.99. Tata Steel, Hindalco, SBI, Vedanta and Bajaj Auto are top gainers while ONGC, M&M, Maruti, Axis Bank and Tata Motors are major losers in the Sensex. The impact of the US interest rate hike should be minimal in India as the country is relatively well cushioned, Chief Economic Adviser Arvind Subramanian said on Thursday. Policy makers, including Reserve Bank of India Governor Raghuram Rajan, have been touting India as being more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals.
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