Sensex soars by 665 points as US Fed keeps interest rate unchanged

American central bank's move comes amid slowing global growth; leads to buying across European, Asian equities

A reversal in stance by the US Federal Reserve regarding interest rate hikes boosted equity markets on Thursday, with the benchmark Sensex climbing nearly 2 per cent — its most in three months.

The Federal Open Market Committee (FOMC) kept policy rates unchanged and indicated that the interest rate increase was on hold amid concerns over global economic growth. The decision triggered a wave of buying across global equities, starting with Wall Street where the Dow Jones surged 1.8 per cent on Wednesday to end at a two-month high. Most Asian and European markets witnessed upbeat trading on Thursday.

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