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Sensex, Nifty Rally Ahead Of Fed Meet
(RTTNews) - Indian shares posted strong gains on Wednesday after Alphabet and Microsoft reported better-than-expected results, helping soothe investor worries over the economic outlook.
Market participants awaited the Fed's interest-rate decision later in the day, with a 75-bps rate hike mostly priced in.
The benchmark S&P BSE Sensex jumped 547.83 points, or 0.99 percent, to 55,816.32 while the broader NSE Nifty index ended at 16,641.80, up 157.95 points, or 0.96 percent, from its previous close.
TCS, Larsen & Toubro, Divis Laboratories, SBI and Sun Pharma jumped 2-3 percent in the Nifty pack, while Bajaj Auto and Bharti Airtel both ended down over 1 percent.
Other Asian markets ended on a mixed note, while European stocks rose on the back of upbeat earnings updates from the likes of UniCredit, Lloyds Bank and Reckitt Benckiser.
The rupee held steady amid expectations that the worst of the currency's decline may be over. Oil prices were seeing modest gains in European trade after industry data showed a healthy drawdown of stocks by the largest consumer in the world.
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