BSE Sensex and NSE Nifty indices were trading higher on Wednesday after US Fed chairperson Janet Yellen allayed concerns of an early rate-hike.
The BSE benchmark Sensex was trading 175.58 points or 0.6% higher at 29,180.24 points, while the NSE’s Nifty was trading 0.6% higher at 8,813.20 points at 11.05 am IST.
On Tuesday, Yellen suggested that it was likely to be several months before the US Fed raises interest rates. According to a Reuters report, Yellen said Fed is considering rate-hikes “on a meeting by meeting basis”.
“The Asian stocks are trading higher on Wednesday morning thanks to gains on Wall Street after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates, a reassuring signal for investors worried about a deteriorating global outlook,” Standard Chartered said in a note.
Most Asian markets were trading in the green. The Hang Seng (0.4%), Kospi (0.7%), Straits Times (0.4%), Jakarta Composite (0.2%), Shanghai Composite (0.2%) and Taiwan Taiex (0.7%) were trading in the green.
Back home, all sectoral indices were trading higher. BSE Oil & Gas (1.04%), BSE Realty (1%) and BSE IT (0.9%) were among the major gainers. Among Sensex scrips, HDFC (2.2%), Infosys (1.7%) and ONGC (1.5%) were among the major gainers.