Closing Bell: Market snaps two-day losing streak ahead of Fed minutes; Nifty above 16,600, Sensex jumps over 500 points
Snapping a two-day losing streak, the Indian market closed strongly ahead of US Federal Reserve meeting outcome on late Wednesday. Benchmarks Nifty50 and Sensex ended almost one per cent higher.
"The Fed announcement on interest rates expected late tonight is unlikely to impact equity markets in a big way since the most likely outcome of 75 bp rate hike has been discounted by the markets."