Sensex, Nifty join global rally on bets of end to Fed rate hikes

Both Indian indices rose on Thursday, following global stocks, after the US Federal Reserve’s less hawkish stance on monetary policy. The NSE Nifty 50 index and the S&P BSE Sensex both closed higher. The Fed’s decision to hold interest rates steady and its comments on inflation being slightly dovish eased market fears. The benchmark US 10-year bond yield dropped to a two-week low, making Indian equities more attractive to foreigners. All 13 sectoral indexes advanced on the day.

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