Benchmark indices reacted bullish after the US Federal reserve kept the rate unchanged in its policy review, leaving the low rate environment intact for now that has helped underpin strong gains in emerging markets. However, Fed had strongly signaled it could tighten monetary policy by the end of this year as the labor market improved further. Nifty ended the session to close 8867 nearly 1% higher. Auropharma, Hindalco and Bank of Baroda were the top gainers of the day TECHM, Axis Bank, Lupin and TCS were the top losers of the day.
Global Markets Update:
- World shares and bonds rallied on Thursday, after the Federal Reserve left U.S. interest rates unchanged and slowed the pace of future hikes, weakening the dollar and lifting commodity prices.
- European shares climbed to a two-week high on Thursday, boosted by a rally in mining equities, after the U.S. Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year anad in 2018.
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