Sensex, Nifty end sharply higher on dovish Fed Minutes

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Sensex, Nifty end sharply higher on dovish Fed Minutes
The Sensex and the Nifty ended the day sharply higher on dovish Minutes of the US Fed Meeting, which eased interest rate hike concerns across the globe.

The Sensex ended the day with gains of 390 points, while the Nifty gained 117 points in trade. Leading the set of gainers from the Nifty were Bhel which surged a huge 8 per cent in trade, followed by Hindalco which closed higher by 4 per cent.

Nifty stocks that saw traction were State Bank of India and Larsen and Toubro. Pharma stocks which saw large scale selling pressure on Wednesday recovered lost ground and ended higher. Infosys also ended the day higher ahead of its results to be declared later on Friday.

PSU banking stocks were the clear winners in trade with Bank of India, Oriental Bank of Commerce Syndicate Bank and Union Bank of India leading gainers from the space.

Realty stocks also saw some buying traction with HDIL and Indiabulls leading gainers. Shares in Torrent Power jumped 6 per cent after reports that the company plans to consider reorganisation of power operations.

Meanwhile, shares in Europe were trading significantly higher after the US Fed released Minutes of Meeting that market considered as favourable.

Asian markets also ended the day sharply higher following the release of the Minutes of the meeting.

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