Indian stock markets surge post US Fed Reserve keeping interest rates low

After days of trading flat and recording marginal gains, the BSE Sensex ended with a gain of 266 points at 28,773. The BSE Sensex opened at 28,767 touched an intra-day high of 28,872 and low of 28,693. The NSE Nifty closed with a gain of 90 points at 8,867.

The NSE Nifty opened at 8,873 hitting a high of 8,893 and low of 8,837.

The equity markets surged after the US Federal Reserve kept interest rates at a near-record low in its latest policy meeting.

Hero MotoCorp, NTPC, Adani Ports, SBI and Power Grid were among the gainers, whereas Lupin, Axis Bank, TCS, HUL, Coal India and Wipro were seen losing on the BSE.

Active buying activity was seen in oil & gas, utilities, banking, finance, capital goods and auto sectors, while IT and teck sector showcased weakness on BSE.

The rupee opened higher 17 paise at 66.86/$ against US Dollar Thursday as against the previous close of 67.01/$.

The current account deficit (CAD) narrowed sharply to just USD 300 million, or 0.1% of GDP, in the June quarter, driven by lower trade deficit on deeper import contraction, the Reserve Bank said.

Asian markets opened higher on Thursday. Shanghai Composite and Hang Seng are up by 1% each. Japanese markets were closed to observe a local holiday. 

Wall Street closed sharply higher on Wednesday after the Federal Reserve kept interest rates unchanged.

The Dow Jones industrial average gained 0.90% to close at 18,293.7 points. The S&P 500 rose 1.09% to end at 2,163.12 points, while the Nasdaq advanced 1.03% to close at 5,295.18 points.