India Stocks Rise Most in Month as Fed Rate Increase Eases Worry
- Foreigners pull $505m from shares this month before Fed meet
- GST bill unlikely to be passed in current parliament session
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Indian stocks climbed the most in a month, tracking gains in global equities, after the Federal Reserve cleared months of uncertainly by raising borrowing costs.
Tata Steel Ltd. was the top performer on the S&P BSE Sensex index. Hindalco Industries Ltd. and Vedanta Ltd., the nation’s largest aluminum and copper producers, rallied more than 3 percent each. Reliance Industries Ltd., the owner of the world’s largest refining complex, soared to a five-month high. Tata Global Beverages Ltd., which has a venture with Starbucks Corp., was among the top gainers on a gauge of mid-cap stocks.