Indian indices rebound as US Federal Reserve holds rates steady

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Indian indices rebound as US Federal Reserve holds rates steady
Credit: © Reuters.

Indian benchmark indices, Nifty and Sensex , experienced a notable recovery Thursday, following previous losses. The rebound was fueled by several positive factors, including the decision of the US Federal Reserve to hold interest rates steady, alongside a decline in US bond yield and oil prices.

The Nifty index rose above 19,100 points while the Sensex closed at 64,080.90 points. This upward trend was further bolstered by a range of sectors including metal, capital goods, FMCG, power, oil & gas, and realty which each saw growth between 1-2%.

The BSE Midcap and smallcap indices also followed suit with a rise of one percent each. Among the top gainers were Britannia Industries (NS: BRIT ), Hindalco Industries (NS: HALC ), IndusInd Bank (NS: INBK ), Apollo Hospitals (NS: APLH ), and Eicher Motors (NS: EICH ). Conversely, stocks such as Vodafone (NASDAQ: VOD ) Idea, REC (NS: RECM ), and Power Finance (NS: PWFC ) underwent a long build-up.

Despite experiencing a short build-up in Hero MotoCorp (NS: HROM ) and losses for Bajaj Auto (NS: BAJA ) and Bajaj Finance (NS: BJFN ), approximately 170 stocks reached their 52-week high. This includes Macrotech Developers (NS: MACE ), Oberoi Realty (NS: OEBO ), Colgate (NS: COLG ) Palmolive, and Esab India (NS: ESAB ).

This revival in the Indian market comes after a period of losses and demonstrates the influence of global economic factors such as US Federal Reserve decisions on emerging markets like India.

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