Mumbai, October 13: US Federal Reserve gave adrenaline to the market as bulls bounced back with a vengeance sending the benchmark sensex to end up by about a massive 485 points at a fresh 33-month high of 20,687.88 on frenzied buying in IT, realty, capital goods, FMCG and banking counters amid firm global advices.
US Federal Reserve in yesterday’s meeting signaled that it would take further stimulus measures to boost the sagging economic recovery and as a result all global markets displayed a strong surge.
Buying was seen across a raft of sector with the IT stocks at the vanguard of the rally after Intel, the world’s largest chipmaker, forcast strong Q4 sales and margins.
Technology stocks also got support on expectations of better Q2 results to be trickle in from couple of days.
–Agencies