Indian Shares Rally as Fed Holds Rates; Sensex Jumps 905 Points on US-Iran Diplomacy Hopes

Indian shares rallied on Thursday after the U.S. Federal Reserve held interest rates steady and oil prices eased on fresh diplomatic efforts to end the war in the Middle East. The 30-share BSE Sensex jumped 905.01 points, or 1.24 percent, to 74,151.04, and the NSE Nifty index surged 237.90 points, or 1.05 percent, to 22,936.75. The Fed offered little clarity on its next move despite persistent inflation and dissents from governor Lisa Cook and Cleveland Fed President Beth Hammack. Markets now price a 78 percent probability of a December rate hike, down from about 84 percent before the meeting, according to the CME FedWatch Tool. Iran's Foreign Minister Abbas Araghchi said Tehran continued to give diplomacy a chance, while President Donald Trump confirmed negotiations were underway through mediators but said he did not know whether they would bear fruit. Adani Ports soared 5.2 percent after logging its highest quarterly profit and raising FY27 guidance. ITC, Infosys, NTPC, SBI and Kotak Mahindra Bank climbed 2-4 percent.