Sensex soars 1100 pts, Nifty tops 17,300; Banks, auto, realty shine

Indian indices on Thursday witnessed a positive start as the Sensex surged over 800 points, while the Nifty50 gained around 250 points. The US Federal Reserve on Wednesday announced a quarter percentage point increase in its interest rate and signalled six more such hikes this year to curb a four decade-high inflation in the US.

The progress in peace talks between Russia and Ukraine, rise in crude prices again, and Covid-19 cases in China will also have an impact on the market sentiments.

Major indices on Wall Street closed higher on Wednesday after the Fed announcement ended the Covid-era's easy monetary policy. In Asia, shares in Japan, South Korea, Australia, Hong Kong, and Shanghai were all trading higher on Thursday. Japan's Nikkei 225 was up over 3.41%, while Hong Kong's Hang Seng was trading close to 6% higher at 11:15 AM IST.