Sensex climbs 343 points, Nifty hits 8,000 on Fed rate decision

Mumbai: The benchmark BSE Sensex rallied over 343 points and the NSE Nifty regained the 8,000-mark in early trade today as financial stocks led gains on widespread buying by investors amid a firming trend at Asian bourses after the US Fed decided to hold off on interest rates.

The 30-share barometer shot up 343.28 points, or 1.32 percent, to 26,307.25. The gauge had gained 258.04 points in the previous session on Wednesday.

Stock exchanges remained closed yesterday on account of Ganesh Chaturthi.

Axis Bank, ICICI Bank, SBI, HDFC Bank and Vedanta were major gainers that supported the index rally.

The NSE Nifty recaptured the 8,000-mark by gaining 103.60 points, or 1.31 percent, to trade at 8,002.75.

Brokers said continued buying by retail investors, tracking a firming trend at other Asian markets following the US central bank's decision to stand pat sent emerging market currencies and most Asian markets moving up.

In Asia, Hong Kong's Hang Seng rose 0.59 percent and Shanghai Composite gained 0.40 percent while Japan's Nikkei was down 1.39 percent in early trade today.

The US Dow Jones Industrial Average, however, ended 0.39 percent lower yesterday.