Strange India All Strange Things About India and world

Sensex and Nifty started on a higher note today.New Delhi: Indian equity benchmarks on Thursday staged a gap-up opening after plunging sharply in the previous session on Reserve Bank of India’s (RBI’s) surprise interest rate hike move.The Reserve Bank has raised the repo rate by 40 basis points (bps) to 4.40 per cent. Repo rate is the rate at which a central bank lends money to banks.Asian shares tracked Wall Street gains today after the U.S. Federal Reserve raised interest rates by 50 basis points (bps), lifting investor sentiment and sending the dollar lower.Back home, the 30-share BSE Sensex rebounded 531 points or 0.95 per cent to 56,200 in early trade, while the broader NSE Nifty moved 146 points or 0.88 per cent up to trade at 16,824.Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.86 per cent and small-cap surged 0.97 per cent.

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