Indian stock markets on Thursday staged a strong rebound, with the Nifty closing above the 22,900 mark. Broad-based buying was seen across sectors, barring auto stocks.
\n\nThe market opened on a muted note but gained momentum as the session progressed, led by IT and banking stocks. Markets sentiment was supported after the US Federal Reserve kept its key policy rate unchanged in the 3.75–4% range, in line with market expectations.
\n\nAt close, the Sensex was up 905.01 points or 1.24 percent at 74,151.04, and the Nifty was up 237.90 points or 1.05 percent at 22,936.75. Nifty midcap and smallcap indices rising 1 percent each.
\n\nIndian Rupee traded in a range with marginal strength of around 0.04% at 95.25, following the US Federal Reserve’s decision.
\n\nThe US Federal Reserve’s decision to keep interest rates unchanged provided support to global equity markets. Investors tracked the Fed’s policy outlook for clues on borrowing costs, liquidity and the flow of foreign capital into emerging markets like India.
\n\nBuying in heavyweight stocks that has lifted the benchmark indices. Adani Ports led the Sensex gainers, while Power Grid, Kotak Mahindra Bank, Hindustan Unilever, NTPC, ITC, Reliance Industries, Titan, TCS and Infosys also advanced. The FMCG sector…
Original source: https://www.timesnownews.com/business-economy
