We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares climbed to a record high on Thursday, buoyed by expectations of a rise in foreign inflows after the U.S. Federal Reserve kicked off its monetary easing cycle with a large half-percentage point rate reduction.

Experts rule out a runaway rally, given the steep valuations across large swathes of the market, expecting large caps to outperform broader markets.