India, Aug. 25 -- Indian shares ended modestly higher on Monday, with IT stocks leading the surge following dovish remarks from U.S. Federal Reserve Chair Jerome Powell.
Delivering his last keynote address at the central bank's annual conclave, Powell on Friday said that economic risks are 'shifting' and a rate cut may be warranted.
Following his rate-cut hint, Fed fund futures currently price in an 84 percent chance of a quarter-point rate cut in September, and at least 100 basis points of easing to 3.25-3.5 percent by the middle of next year.
Meanwhile, on the trade front, there seems to be no hopes for tariff relief as the U.S. officials have already cancelled the scheduled visit to India during August 25-29.
The U.S. has already thr...