Sensex Rebounds Over 500 Points, Nifty Trades Above 16,800

Today the Sensex and Nifty started with a good start.

New Delhi:

Indian equity benchmarks staged an intra-day opening on Thursday after falling sharply in the previous session on a surprise interest rate hike move by the Reserve Bank of India (RBI).

The Reserve Bank has increased the repo rate by 40 basis points (bps) to 4.40 per cent. Repo rate is the rate at which a central bank lends money to banks.

Asian stocks tracked Wall Street gains today after the US Federal Reserve raised interest rates by 50 basis points (bps), lifting investor sentiment and sending the dollar lower.

Back home, the 30-share BSE Sensex rose 531 points or 0.95 per cent to 56,200 in early trade, while the broader NSE Nifty was trading 146 points or 0.88 per cent higher at 16,824.

Mid- and small-cap stocks were positive as Nifty Midcap 100 gained 0.86 per cent and small-cap 0.97 per cent.

Source

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