Indian shares rose on Wednesday, following the lead of Asian and U.S. markets as concerns about interest rate hikes eased after data showed a slowdown in the U.S. economy. The Nifty 50 index increased by 0.45% to 19,430.35, while the S&P BSE Sensex rose by 0.49% to 65,394.75. Most sectoral indexes saw gains, particularly in the financials and information technology sectors. IT stocks were boosted by data showing consumer confidence and job openings, indicating a slowdown in the U.S. economy. Metal stocks also saw gains, benefiting from China’s measures to support its property sector. Analysts believe that the Federal Reserve is unlikely to raise interest rates in September, providing relief to global equity markets. However, they also expect consolidation in the Indian equities market due to high valuations and concerns about the monsoon season’s impact on inflation and consumption-linked sectors. Individual stocks such as Zomato, Ami Organics, and MPS also experienced gains due to various factors such as block deals and acquisitions.

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