Rally after US Fed rate hike stumps experts

Usually, a rate hike by US Federal Reserve or Fed isn’t viewed as positive, particularly for emerging markets (EMs), because higher interest rates increase the price of funds (liquidity) that typically chase riskier assets like EM equities, for higher returns. If past performance is any indicator, the traders were bracing up for some correction or consolidation in Thursday’s trading session. But, what happened instead was totally contrary to past performances and even logic. The S&P BSE Sensex gained 187 points and CNX Nifty closed at its all-time high of 9,153 points. Experts unanimously say that Thursday’s trading session is clearly