Indian shares rise after Fed decision

Dhaka,  Monday,   2016-09-22
Published : 22 Sep 2016, 15:36:37

Indian shares rise after Fed decision

Indian shares rise after Fed decision
Indian shares rose more than 1.0 per cent on Thursday, tracking a global rally after the US Federal Reserve kept interest rates unchanged.

Still, the Fed strongly signalled on Wednesday it could tighten monetary policy by the end of this year as the labour market improved further.

The MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.3 per cent, while the Nasdaq Composite closed at a record high.

The broader NSE index was up 0.73 per cent at 8,840.35 as of 0620 GMT, boosted by banking and auto stocks.

The benchmark BSE index was 0.72 per cent higher at 28,712.13 after rising as much as 1.28 per cent earlier in the session.

The Nifty Bank index gained as much as 2.2 per cent, having risen about 17 per cent this year as of Wednesday's close.

IndusInd Bank, Federal Bank and State Bank of India were among the top percentage gainers.

Shares of Indian Oil Corp rose as much as 1.1 per cent and Gail (India) Ltd gained up to 1.76 per cent after the companies agreed to buy a combined 49 per cent stake in a liquefied natural gas terminal being built in the eastern state of Odisha.

Only 11 stocks on the NSE index fell with software service providers being the main decliners on a stronger rupee.

The Nifty IT index fell as much as 0.43 per cent with Tech Mahindra being the top percentage loser, according to Reuters.

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