The 30-share BSE Sensex surged 309.41 points or 1.21 percent to 25803.78 and the 50-share NSE Nifty rose 93.45 points or 1.21 percent to 7844.35. The market breadth was strong as nearly three shares advanced for every share declining on the Bombay Stock Exchange.
Analysts feel that after Fed rate hike, the next trigger may be oil price that has been hitting multi-year lows amid supply glut concerns.
Finally Federal Reserve raised interest rates by 25 basis points, which was the first rate hike since 2006. In Europe, Germany's DAX surged 3 percent followed by France's CAC (up 2.6 percent) and Britain's FTSE (up 1.5 percent). Asian markets also closed higher with the Nikkei and Shanghai up more than 1.5 percent.
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