Markets gain on dovish comments by US Fed chairman; Sensex rise 378 points

Bank Nifty underperforms after RBI raises hikes rate by 25bps

Benchmark Nifty gained nearly 0.9 per cent on Wednesday amid a rally in global equities following dovish comments by the Federal Reserve Chairman. Also, gains in Adani group stocks propelled the 50-share index.

The banking pack, however, underperformed with gains of just 0.1 per cent after the Reserve Bank of India (RBI) hiked policy rates by by 25 basis points (bps) to 6.5 per cent.

The Sensex rose 378 points, or 0.6 per cent, to end the session at 60,664. The Nifty finished at 17,872, a gain of 150 points, or 0.9 points. The Bank Nifty index rose just 0.11