Indices hit 4-month high despite worries; Sensex rises 465 points

FPIs return but fears of Fed tightening remain

The domestic equity markets hit their highest levels in nearly four months on Monday, following a revival in overseas investors’ inflows and a fall in commodity prices.

The Sensex gained 465 points, or 0.8 per cent, to close at 58,853 — its highest closing level since April 11. The Nifty50 ended the session at 17,525, following a gain of 127 points, or 0.7 per cent.

In the past 17 trading sessions, the Sensex and the Nifty have ended with losses only on three occasions (all the three losses were less than 1 per cent each). The rebound from June lows