The Indian equity benchmarks rebounded sharply on Wednesday led by gains across all sectors. Asian shares traded higher, tracking overnight gains in the Wall Street, with investors’ focus on the U.S. Federal Reserve meeting. The U.S. central bank is expected to raise its interest rate by 25 basis points (bps). In such a case, this would be the first interest rate hike in three years. The sentiments were also high on hopes of a resolution in Russia-Ukraine talks.
Back home, the 30-share BSE Sensex jumped 1,040 points or 1.86 per cent to close at 56,817, while the broader NSE Nifty moved 312 points or 1.87 per cent higher to settle at 16,975.
Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 index surged 2.01 per cent and small-cap shares gained 1.17 per cent.