<h1>Indian equities rally on Fed rate-cut hopes and IT strength despite recent FII outflows and looming tariff, commodity risks</h1> Benchmark Indian equity indices rose in early trade following global gains driven by expectations of a US Federal Reserve rate cut and strength in IT stocks, with major domestic IT and financial firms among gainers and laggards. Market commentators attributed the rally to comments by the Fed chair suggesting possible policy easing; US indices closed sharply higher. Foreign institutional investors recorded net equity outflows the prior session. Risks noted included an imminent US tariff deadline and fluctuating commodity prices, factors that could materially affect market volatility and cross-border investment flows.