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Mumbai: The major indices of the Indian stock market, the Sensex and the Nifty, traded higher by more than one per cent on Thursday afternoon. IT and banking stocks rallied lower than expected by the US Federal Reserve by investors worldwide.
The 30-share S&P BSE Sensex was up 599.2 points, or 1.08 per cent, at 56,268.23 points at 12.21 pm. It was 55,669.03 points at the end of its previous day.
Earlier, the Sensex opened positive at 56,255.07 points and touched a high of 56,566.80 in the morning trade.
The Sensex has risen on the back of positive indications from global stock markets. Globally, markets have seen a rise of less than 0.75 per cent, which investors fear, following the US Federal Reserve raising key interest rates by 0.50 per cent.
Indian stock markets rose one day after a sharp decline. The Sensex fell by 1306.96 points, or 2.29 per cent, on Wednesday after the Reserve Bank of India (RBI) announced a sharp rise in its policy repo rate by 0.40 per cent.
This is the first increase in the policy repo rate since May 2020 to change the monetary policy stance of the Reserve Bank.
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