Sensex climbs 165 points, Nifty hits 7,800 on Federal Reserve rate hike

The Indian markets extended their rising streak for the fourth consecutive session, the benchmark BSE Sensex rallied 165 points and the NSE Nifty regained the 7,800-mark in early trade Thursday amid a firming trend at Asian bourses as global markets had already factored in the US Federal Reserve interest rate hike.

The 30-share barometer shot up by 164.95 points, or 0.64%, to 25,659.32. The gauge had gained about 350 points in the previous three sessions.

Also read: Indian markets rise post Federal Reserve hike

SBI, Axis Bank, ICICI Bank, HDFC Bank, Bajaj Auto, Dr Reddy's, NTPC, Hero MotoCorp and Sun Pharma were the major gainers that supported the index rally.

The NSE Nifty recaptured the 7,800-mark by gaining 49.25 points, or 0.63%, at 7,800.15.

Also read: Asia stocks jump with gradual Federal Reserve hike; oil prices resumed decline

Brokers said continued buys by retail investors, after they tracked a firming trend at other Asian bourses following overnight rally in US markets after the Federal Reserve announced the first interest rate hike in nearly a decade and said that the economy is growing at a moderate pace and should accelerate next year, influenced sentiments here.

Among other Asian markets, Hong Kong's Hang Seng rose 1.02% and Shanghai Composite gained 1.34%, while Japan's Nikkei surged 2.29% in early trade on Thursday.

The US Dow Jones Industrial Average ended 1.28% higher on Wednesday.