TIL Desk/Business/Mumbai/ Equity benchmarks bounced back in early trade on Thursday after falling sharply in the previous trade, with the Sensex rallying 651 points, following significant jump in US markets and buying in index major Infosys.
The 30-share BSE benchmark was trading 650.9 points higher at 56,319.93. The NSE Nifty also jumped 185.65 points to 16,863.25. From the Sensex pack, Tech Mahindra, Tata Steel, Infosys, State Bank of India, Kotak Mahindra Bank and M&M were the major gainers in early trade. In contrast, Nestle and Titan were the laggards. Markets in Hong Kong were quoting higher. Stock exchanges in the US surged higher in the overnight trade on Wednesday.
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point on Wednesday.
“US equities rallied, recording the biggest one-day gain since 2020, after Federal Reserve comments suggested that the central bank is unlikely to consider a higher interest-rate hike of 75 basis points in the coming months.
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