Diabytes
US Federal Reserve News
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Foreign institutional investors (FIIs) remained net sellers last week, offloading shares worth Rs 1,246 crore.
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In the Asian trading hours, Comex gold was trading 0.06 per cent higher at USD 2,669.60 per ounce.
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Russia has now emerged as the largest supplier of crude oil to India replacing Iraq and Saudi Arabia which occupied the top slot earlier.
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The Indian currency gained strength as the US Federal Reserve indicated three rate cuts this year despite sticky inflation.
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Reliance Industries which rebounded more than 1.5 per cent from the day's low was the major contributor to Sensex and Nifty gains.
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The US monetary policy committee in its statement said that the recent indicators suggested that economic activity has been expanding at a solid pace.
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Indian Rupee falls all time low of 82.33 against US dollars on Friday.
Indian currency for the first time closed below the 82 level against the greenback.
Global oil benchmark Brent crude futures fell 0.10 per cent to USD 94.33 per barrel.
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Indian rupee weakened by 37 paise to hit a new all-time closing low of 81.90.
Indian rupee has weakened sharply in recent days largely due to a strengthening of the US dollar.
US Federal Reserve had raised the repo rate by 75 basis points.
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The 30-share BSE benchmark jumped 1,041.47 points or 1.87 per cent to settle at 56,857.79.
During the day, it rallied 1,097.9 points or 1.96 per cent to 56,914.22.
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The US Federal Reserve on Wednesday (June 10) held interest rates near zero and dropped hints that it would maintain that level until the end of 2022 to check the damage caused to the US economy due to coronavirus COVID-19 pandemic.
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While new economic projections showed policymakers` views of growth and unemployment largely unchanged, they saw headline inflation at just 1.5 percent for the year, down from the 1.8 percent projected in March.
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According to Federal Reserve Chairman Jerome Powell, the world's largest economy continued to strengthen this year, roughly in line with expectations.
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The US central bank still foresees another rate hike in December, three more next year, and one increase in 2020.
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The 30-share Sensex opened higher at 33,206.99 and advanced to hit a high of 33,281.77 in early trade.
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According to market observers, investors were cautious ahead of the US Federal Reserve's meet on March 20-21.
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The Sensex after resuming lower at 33,817.09 fell further to hit a low of 33,691.42 intra-day on foreign fund outflows.
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It would be the third rate hike this year, and possibly the final time Federal Reserve Chair Janet Yellen presides over a policy move since President Donald Trump has opted to replace her in February.
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In the national capital, gold of 99.9 percent and 99.5 percent purity tumbled by Rs 180 each to Rs 29,400 and Rs 29,250 per 10 grams, the lowest since August 5.
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The broader Nifty too settled below the key 10,300-level, down 82.10 points, or 0.80 percent, at 10,240.15.
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The six months from April to October saw the fastest economic expansion since the same period in 2014, when GDP grew by an average of 4.9 percent.
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