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Domestic indices track gains in Asian peers as US Fed softens tone

BENGALURU: Domestic indices rebounded on Thursday, tracking Asian peers that rose as the Federal Reserve’s less hawkish tone lifted investor sentiment.
The benchmark indexes closed over 2% lower on Wednesday, having posted their biggest intraday percentage loss since March 7 earlier in the session, after India’s central bank hiked benchmark rate in a surprise move.
The Nifty 50 index was up 0.71% at 16,796.30, with most of its major sub-indexes in positive territory, while the sensex rose 1.06% to 56,256.66.
Nifty’s public sector bank, metal and auto sub-indexes were among the top segment gainers, rising over 1% each.
In the broader Asian market, shares tracked Wall Street gains after the US central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared.

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