Sensex jumps 123 points in early trade ahead of Fed decision

The benchmark BSE Sensex surged over 123 points at 25,443.48 in early trade on Wednesday amid a firming trend at other Asian markets ahead of the outcome of the Federal Reserve meeting.

Extending gains for the third straight session, the benchmark BSE Sensex surged over 123 points at 25,443.48 in early trade on Wednesday amid a firming trend at other Asian markets ahead of the outcome of the Federal Reserve meeting.

The 30-share index, which had gained 276.09 points in the previous two sessions, gathered another 123.04 points, or 0.48%, at 25,443.48 with all the sectoral indices, led by oil & gas, IT, healthcare and power trading in positive zone.

The NSE Nifty was also trading higher by 28.75 points, or 0.37%, at 7,729.65.

Brokers said pick-up in buying by participants, in step with a firming trend at other Asian bourses and overnight gains in the US and European markets ahead of the outcome of a Federal Reserve meeting -- which is likely to see a long-awaited interest rate hike -- influenced sentiments.

Among other Asian markets, Japan’s Nikkei gained 2.13% while Shanghai’s Composite index was up 0.63% in early trade. Hong Kong’s Hang Seng index was trading 2.18% higher.

The US Dow Jones Industrial Average ended 0.90% higher in Tuesday’s trade.