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Fed Hike, Trump Tariffs: Why Indian Markets Are Staying Steady | Gaurang Shah

Fed Hike, Trump Tariffs: Why Indian Markets Are Staying Steady | Gaurang Shah

Aabha Bakaya
Aabha Bakaya
  • New Delhi,
  • Sep 17, 2026,
  • Updated Sep 17, 2026, 12:46 PM IST

Indian markets remained relatively steady despite the US Fed’s 25-basis-point rate hike and renewed concerns over Trump’s tariff measures. Speaking to Business Today, Gaurang Shah of Geojit says markets may have already priced in much of the recent correction. He highlights crude oil near $108 a barrel and the rupee moving closer to ₹96 against the US dollar as key factors to watch. Meanwhile, gold and silver prices declined, while the India VIX also fell, suggesting limited signs of defensive positioning. Shah expects markets to potentially stabilise and attempt to build a base after the recent correction.