Stock market rises as Fed keeps rates unchanged

Indian stock market opened on a strong note on Thursday, following the US Federal Reserve's decision to keep interest rates unchanged.

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The Fed also revised down its growth projections while raising inflation and unemployment estimates. Investors responded positively to these developments, leading to a surge in both the Sensex and Nifty indices.

At the opening bell, the Sensex climbed 381.49 points to 75,830.54, while the Nifty gained 118.65 points, opening at 23,026.25. Market sentiment remained positive, with 41 out of 50 Nifty companies recording gains, while only 9 saw declines.

Among the top gainers in the Nifty index were Wipro, Infosys, Bharat Electronics Limited (BEL), Hero MotoCorp, and HCL Technologies. On the other hand, HDFC Life, UltraTech Cement, JSW Steel, Sun Pharma, and Dr Reddy's Laboratories were the biggest losers.

Ajay Bagga, banking and market expert, said, "All Central banks acted as per market expectations yesterday. The Bank of Japan hit the pause button, citing continued trade policy uncertainty as an overhang on its economy."