Sensex Soars 300 Points As US Fed Holds Interest Rates Steady

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Benchmark indices opened the day higher in trade as the US Fed held interest rates steady and sounded dovish on interest rates hikes.

The Sensex surged a huge 311 points in opening trade and breached the 26,000 points mark at 26,271 points, while the Nifty was last trading higher by 84 points at 9784 points.

Sensex Soars 300 Points As US Fed Holds Interest Rates Steady
The US Federal Market Open Committee (FOMC) meeting kept interest rates steady in the US, largely on worries over global conditions and on inflation continuing to remain low.

Check Sensex gainers and losers

Asian indices were also trading higher following the US Fed status quo with most markets gaining ground, except the Japanese Nikkei which dropped in trade.

Leading the set of gainers from the Nifty were banking stocks which Axis Bank, ICICI Bank and Canara Bank gaining more than 2 per cent each.

Tata Motors and Cairn India were the only two Nifty losers in trade. The mid cap index was also trading with gains with stocks like Torrent Pharma and UPL gaining more than 2 per cent each.

However, SKS Micro Finance lost a huge 13 per cent in trade. Shares in Granules India soared 5 per cent after the company got US FDA approval for Ibruprofen Tablets.

Meanwhile, the rupee gained 30 paise against the dollar and was last trading at 66.17 to the dollar. Check currency rates here

Read more about: sensex, nifty, us fed, tata motors, axis bank
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