Mkts jump as Fed rate cut outlook bolsters sentiment

NSE Nifty surged 1.24% to reclaim the 23,000-mark on heavyweight buying

- Press Trust of India

MUMBAI: Rallying for the fourth straight session, stock market benchmarks Sensex and Nifty surged over 1% on Thursday, powered by across-the-board buying amid a mixed trend in global equities after the US Federal Reserve maintained its rate cut projections for this year.

Hectic buying in market heavyweights Reliance Industries, Bharti Airtel and IT stocks also bolstered investor sentiment, traders said.

The 30-share BSE benchmark Sensex jumped 899.01 points or 1.19% to settle at 76,348.06, regaining the 76,000 level. During the day, it soared 1,007.2 points or 1.33% to 76,456.25.

The NSE Nifty surged 283.05 points or 1.24% to reclaim the 23,000-mark to finish at 23,190.65.