India, April 23 -- Indian shares rose notably on Wednesday due to easing trade tensions and U.S. President Donald Trump's softer stance towards the Fed chairman.
Auto, pharma and IT stocks were at the forefront of the gains after both U.S. Treasury Secretary Scott Bessent and President Trump said that the tariff standoff with China cannot be sustained by both sides and there will be de-escalation.
Additionally, Trump toned down his rhetoric on Jerome Powell, saying he would like to see him be a little more active in terms of his idea to lower interest rates but have no intention to fire him.
His comments helped calm investor fears over the Fed's independence and the possible threat to U.S. monetary and fiscal credibility.
The benchmark ...