Source: Agencies17 Mar 2016 10:08:19
Mumbai, March 17: The BSE benchmark Sensex on Thursday opened than 220 points higher with 28 components in the green, tracking gains on Wall Street after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned last year.
Nifty was trading above 7,500. Banks, metals and auto stocks were leading the surge in the Sensex. The Sensex on Wednesday had settled 131 points higher at 24,682.48.
The S&P 500 closed at its highest level of the year on Wednesday after the US Federal Reserve left interest rates untouched and signaled fewer rate hikes in coming months.
The Fed indicated moderate US economic growth and "strong job gains" would allow it to tighten policy this year with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December.