Equity benchmark Sensex surged past the 57,000-mark by rallying over 1,000 points on Thursday, tracking an overall bullish trend in global equities despite the US Federal Reserve hiking rates. The 30-share BSE index closed 1,047.28 points or 1.84 per cent higher at 57,863.93. Likewise, the NSE Nifty surged 311.70 points or 1.84 per cent to end at 17,287.05.
The US Federal Reserve on Wednesday (local time) raised interest rates by 75 basis points (bps) or three-quarters of a percentage point in the boldest move since 1994.
The US Federal Reserve on Wednesday night hiked interest rates by 0.25%.
The US Federal Reserve, on Wednesday, announced a 0.25 per cent cut in benchmark interest rate, which is expected to increase capital flow from foreign institutional investors in the Indian stock market.
Indian markets on Thursday shrugged off any negative impact.
The announcement of the Federal Reserve sent markets to a tizzy
The rupee had ended 13 paise higher at 60.92 against the greenback in Wednesday's trade following sustained dollar selling by exporters.
The US Federal Reserve on Wednesday surprised the markets by saying it will continue with its monthly $85-billion bond buying programme and wait for more evidence of growth recovery.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
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