Sensex Soars Over 400 Points On Positive Global Cues, Nifty Above 14,800

The domestic stock markets have a gap-up opening, buoyed by the strong closing on Wall Street on Wednesday after the Federal Reserve said that the US economy is heading for its strongest growth in nearly 40 years

The domestic stock markets have a gap-up opening, buoyed by the strong closing on Wall Street on Wednesday after the Federal Reserve said that the US economy is heading for its strongest growth in nearly 40 years. At 9:20 am, the BSE Sensex is trading aat 50,219.85, higher by 422 points or 0.82 per cent and the NSE Nifty is at 14,850.75, up 132.15 points or 0.85 per cent. Asian stocks were set for modest gains on Thursday after the Federal Reserve pledged to keep monetary policy and rates unchanged and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases. Japan's Nikkei 225 futures added 0.12 per cent and Hong Kong's Hang Seng index futures rose 0.68 per cent. E-mini futures for the S&P 500 rose 0.08 per cent. Overnight, the Dow Jones Industrial Average and S&P 500 closed at record highs after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.