Sensex, Nifty Extend Gains For Fourth Day

(RTTNews) - Indian shares rallied on Thursday to extend gains for a fourth straight session after the U.S. Federal Reserve signaled the possibility of two rate cuts by the end of the year, given increased uncertainty around the economic outlook.

The Fed also lowered its economic outlook for the year, marked up its inflation expectations and said it will start shrinking its balance sheet at a slower pace starting next month amid growing worries around tariffs.

The benchmark 30-share BSE Sensex surged 899.02 points, or 1.19 percent, to 76,348.06 while the broader NSE Nifty index closed up 283.05 points, or 1.24 percent, at 23,190.65.

The BSE mid-cap and small-cap indexes rose 0.6 percent and 0.7 percent, respectively. The market breadth was positive on the BSE, with 2,404 shares rising while 1,614 shares declined, and 127 shares ended unchanged.

Among the top gainers, Britannia Industries, Bajaj Auto, Eicher Motors, Titan Company and Bharti Airtel jumped 3-4 percent.

IT stocks such as Infosys, TCS and Wipro rose 1-2 percent as an investor event reassured markets about demand for artificial intelligence computing.

Garden Reach Shipbuilders surged 4.5 percent to extend gains from the session after singing a new MoU with PWD Nagaland.

Polycab slumped 6.2 percent and Havells India tumbled 3.7 percent on competition worries following Adani Group's foray into the cables and wires business.

Bharat Forge soared nearly 5 percent as the Competition Commission of India (CCI) invited comments from public regarding the proposed deal between Bharat Forge and AAM India Manufacturing Corporation.

NCC gained 2.3 percent on winning an order worth Rs. 2,129.6 crore.