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Sensex, Nifty Follow Global Peers Higher On Fed Rate Optimism
(RTTNews) - Indian shares posted strong gains on Thursday, as a hawkish interest-rate hold by the Federal Reserve fueled hopes that the U.S. central bank is done with the most aggressive tightening cycle in four decades.
The benchmark S&P BSE Sensex rose 489.57 points, or 0.77 percent, to 64,080.90 after two days of losses.
The broader NSE Nifty index settled 144.10 points, or 0.76 percent, higher at 19,133.25.
Britannia Industries topped the gainers list to climb nearly 3 percent after the FMCG giant posted 20 percent growth in Q2 consolidated profit.
Eicher Motors, Apollo Hospital Enterprise, IndusInd Bank and Hindalco surged 2-3 percent.
Dr Lal PathLabs gained 3.3 percent after Q2 profit jumped 52 percent year-on-year.
Power Finance Corporation shares hit a new 52-week high before closing 6.1 percent higher at Rs 257 on the NSE.
Adani Enterprises gave up early gains to end slightly lower after Q2 profit halved from last year.
Hero MotoCorp fell over 1 percent despite the two-wheeler manufacturer reporting a 47 percent rise in quarterly profit.
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