US Federal Open Market Committee move boosts Sensex
The equity markets snapped their three day losing streak and bounced back sharply
By : DC Correspondent
Update: 2014-12-19 06:07 GMT
Mumbai: The equity markets snapped their three day losing streak and bounced back sharply on Thursday after the US Federal Open Market Committee (FOMC) on Wednesday said that it is in no hurry to increase interest rates.
Market participants fear that an increase in interest rate by the US Fed Reserve would lead to large scale outflow of funds from emerging markets equities and debt. Tracking gains in overseas equities, the Sensex soared 416.44 points, recouping most of the losses during last trading sessions.