Snapping seven straight session losses, Indian stocks rise marginally Tuesday

New Delhi [India], February 28 (ANI): Stock indices in India rose marginally on Tuesday after the seventh consecutive day of decline.

At 9.45 am, Sensex and Nifty were 0.2 per cent higher each. The benchmark stock indices had been declining over weak market fundamentals in US markets, which saw its sharpest weekly decline of 2023.

At the latest monetary policy meeting in the US, a few participants, according to the minutes of the US Federal Reserve, favoured raising the target range for the federal funds rate 50 basis points, noting that a larger increase would more quickly help in achieving price stability.

Meanwhile, consumer inflation in the US moderated to 6.4 per cent in January from 6.5 per cent in December, and 7.1 per cent the previous month but still is way above the 2 per cent target.

Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby enabling the inflation rate decline.