Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
Fed policymakers' deepening uncertainty about their own projections has resulted in the central bank sending mixed messages
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
Markets could slide again owing to conditions in Europe and the US.
The world seems to have caught severe pneumonia, or worse, as China had flu.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
Determining the direction of the dollar in Trump's America will be more critical for asset allocation than getting your call on interest rates right, says Akash Prakash.
While enjoying long-awaited economic good times - and hoping they will last as long as possible - some caution and some prudence might be the best protection against bad surprises, says Claude Smadja.
The policy statement by the RBI governor is also expected to be upbeat.
Here are 10 global and domestic factors.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
The move, which could come as a surprise to many investors, was a nod to better prospects for economy and labor market
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India's share of 2015 emerging market allocations will be driven by FII perceptions on likely growth and reform.
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
Five per cent growth is disappointing but only after having reached nine per cent. However, it is still not all that bad, says Andrew Michael Spence.
'Chinese real GDP growth is 7.1% and India's is 7.4%'.
Emerging markets could be affected by a combination of lower liquidity and higher dollar interest rates caused by a hike in the US Fed funds rate.
It is by now quite clear that in all likelihood the US Federal Reserve will hike interest rates in its next meeting in mid-December.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
In India we have to be careful not to copy any level of dependence on the financial sector and infatuation with the get-rich-quick syndrome, says Jaimini Bhagwati.
'The recent US jobs report has eased fears of a hike in the Fed meeting.'
Although the current long-term bullish trend is intact, markets are awaiting clarity on the taper and the Assembly election results.
Summers dogged by controversies over past views
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Given the 18-day government shutdown in the US and the likelihood for continued wrangling between the Democrats and the Republicans, it now looks like tapering may be off the table till the first quarter of 2014.
The nomination would put Yellen on course to be the first woman to lead the institution.
'The 'Off-with-Rajan's-head' brigade bases its arguments on mistaken beliefs, erroneous causalities, and even downright prejudice.'
'We want to make sure we stay in India and we have very high hopes from India,' says Mark Mobius.
'You want a steady, confident, self-assured and highly skilful hand at the till. 'It is a pity that the BJP has decided to deprive itself of such a hand at this politically sensitive time.' 'It is like sacking your surgeon in the middle of your brain surgery,' says S Muralidharan.
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