Stock Market India: Nifty rises sharply over 1.7 per cent Domestic equity benchmarks rallied sharply on Friday, reflecting a rise in Asian bourses after Wall Street stocks overnight made a remarkable comeback and closed significantly higher after a deep sell-off earlier in an extremely volatile session.
Early Asian trading saw about a 1.5 per cent increase in MSCI's broadest index of Asia-Pacific shares outside of Japan.
South Korea surged 2 per cent, Australia's resource-heavy share index rose more than 1.6 per cent, and Japan's Nikkei increased by over 2.5 per cent.
Investors had sold off stocks earlier in the week in anticipation of a high US inflation reading; thanks to Friday's rebound, the Asian index has pared its weekly losses to just under 3.5 per cent.
But softening risk appetite was already evident, with US futures pointing to a lower opening.
"So on almost every metric, these figures shout that the Fed will be raising rates faster, taking them higher and leaving them there longer than the market had been anticipating.

Source - NDTV
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