Sensex jumps over 150 pts; Nifty above 11,950
The 30-share index was trading 149.75 points or 0.37 per cent higher at 40,562.32 in morning trade. The broader Nifty was trading 47.60 points or 0.40 per cent up at 11,957.75.
Yes Bank was the top gainer in the Sensex pack rallying up to 4.32 per cent, followed by ICICI Bank Tata Motors, Tata Steel, Vedanta, IndusInd Bank, Hero MotoCorp, SBI and Sun Pharma.
On the other hand, ONGC was the top loser, shedding up to 1.25 per cent. Bharti Airtel, Kotak Bank, PowerGrid, ICICI Bank and HDFC were also trading in the red.
In the previous session, the 30-share gauge finished 172.69 points or 0.43 per cent higher at 40,412.57, and the Nifty climbed 53.35 points or 0.45 per cent to close at 11,910.15.
According to traders domestic investors following cues from global markets, which were enthused by US Federal Reserve's dovish outlook in its policy meet last night.
The Fed, as expected, made no change to interest rates after cutting the last three meetings in an effort to maintain solid economic growth.
The central bank chief Jerome Powell said the US outlook "remains favouable despite global developments and ongoing risks" as he described the grinding US-China trade war as a drag on global growth.
Domestic market sentiment was also positive as foreign investors turned net buyers in the capital market on Wednesday, traders said, adding that investors are also awaiting factory output data to be released later in the day.
Foreign institutional investors purchased Rs 605.41 crore, while domestic institutional investors bought shares worth Rs 239.87 crore, data available with stock exchange showed.
Elsewhere in Asia, bourses in Hong Kong, Shanghai, Tokyo and Seoul were trading on a positive note.
Stock exchanges on Wall Street too settled higher after the Fed meet outcome.
Brent futures, the global oil benchmark, rose 0.44 per cent to USD 64 per barrel.
Meanwhile, the rupee appreciated by 16 paise to 70.68 in morning session. ANS ANS