Sensex Extends Gains For 3rd Day, Surges 712 Points, Nifty Reclaims 17,150
NDTV
Indian equity benchmarks on Friday extended their gains for the third straight session, led by strong buying interest in metal and technology stocks.
Indian equity benchmarks on Friday extended their gains for the third straight session, led by a strong buying interest in metal and technology stocks. Domestic indices also got a boost from index heavyweight Reliance Industries, other energy and consumer stocks.
Investors focused on a possible slowdown in the pace of rate hikes rather than a U.S. recession after data showed its economy shrinking for a second straight quarter.
The Fed raised rates by 75 basis points (bps), but its chair Jerome Powell dropped guidance on the size of the next rate hike and noted that "at some point," it would be appropriate to slow down.
Back home, the 30-share BSE Sensex jumped 712 points or 1.25 per cent to close at 57,570 today, while the broader NSE Nifty moved 229 points or 1.35 per cent higher to settle at 17,158.
