Sensex rises 365 points as US Fed holds rates

Stock market sensex surges

Good news for stock market as the BSE benchmark Sensex surged by 365 points and the NSE Nifty regained the 8,800 mark in early trade today.

Strong Inflows from overseas investors and across-the-board buying by the investors also helped market sentiments.

The 30—share barometer Sensex was quoting sharply higher by 364.80 points, or 1.27 per cent at 28,871.92 in early trade with all the sectoral indices led by banking, metal and auto were trading in the positive zone, gaining by up to 1.99 per cent.

The Sensex had lost 127.08 points in the previous two sessions.

Big gainers that supported the early rally at the indices included ICICI Bank, Tata Steel, SBI, Hero MotoCorp, Axis Bank, Maruti Suzuki, HDFC Ltd, HDFC Bank, Tata Motors, GAIL, ONGC and RIL.

The Federal Reserve kept its benchmark interest rate unchanged for the sixth straight meeting yesterday, saying it needs to see more signs of strength in the US economy.

Among other Asian markets, Hong Kong’s Hang Seng rose 1.54 per cent, while Shanghai Composite Index gained 0.77 per cent in their early deals. Japanese financial markets are closed for a national holiday.

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