Sensex back to winning ways, jumps 234 points on Fed minutes.
After taking a day's breather, the benchmark BSE Sensex on Friday bounced back by 233.70 points to a seven-week high of 27,079.51 on rally in tech and commodity stocks as details from the last US Fed meeting indicated that it is in no rush to raise interest rates.
Buying ahead of the earnings season, which begins next week with Infosys scheduled to report second quarter numbers on Monday, also buoyed market sentiments.
"The US Federal Reserve meeting minutes released yesterday indicates a dovish stance, which has increased optimism on the possibility of a delay in rate hike," said Vinod Nair, Head- Fundamental Research at Geojit BNP Paribas Financial.
No comments:
Post a Comment