Indian stock market rises as Fed rate cut expectations boost market sentiment

India's Nifty 50 index and Sensex index both rose by about 0.4%. Federal Reserve Chairman Jerome Powell spoke at the Jackson Hole symposium last Friday, hinting at a possible interest rate cut in September. The Indian IT stock index rose by 2.7%, as the potential rate cut in the U.S., which is a key market for most IT companies, sparked hopes for a recovery in tech spending. Out of 16 major sectors, 13 saw gains; the mid-cap index and small-cap index rose by 0.4% and 0.3%, respectively. Metal stocks increased by nearly 1%, as expectations of a rate cut put pressure on the dollar, boosting metal prices. Investors are also watching for any progress in U.S.-India trade negotiations, as an additional 25% tariff on Indian goods will take effect on August 27. In terms of stocks, Nazara Technologies' shares fell by 7%, marking a decline for the fourth consecutive trading day, due to the government's ban on online real-money gaming