US Fed helps market to end in green, completes 6-week rally

Buoyed by status quo stance taken by the US Fed on interest rate and optimism over trade ties with China helped both the key indices, Sensex and Nifty, to wash out initial sharp losses and land in positive terrain at close for the six week in a row.
Higher global cues triggered by stand taken by US Fed to keep interest rate unchanged and also boosted the market sentiment.
The S&P BSE benchmark Sensex resumed lower and dropped further to a low of 26,464.03 on heavy heavy profit-booking from operators in view of setback of BJP in by-poll elections and fears of hike in interest rates by Federal Reserve.

However, it bounced back to a high of 27,247.17 on buying as Fed's promised to retain rates at low levels and rising optimism over trade ties with China before concluding the week at 27,090.42, showing a gain of 29.38 points or 0.11 per cent.
The Sensex has gained 1,761.28 points or 6.98 per cent in the six weeks.
The NSE 50-share Nifty also moved up by 15.95 points or 0.20 per cent to regain 8,100-mark to end at 8,121.45.

In a statement, the US Federal Reserve Chairwoman Janet Yellen Wednesday in its policy setting meeting promised to keep the interest rates near zero for a "considerable time after its bonds buying programme comes to an end in October, giving immediate relief to the emerging markets, including India as fears of immediate capital outflows have subsided.

India Wednesday signed a 5-year trade and economic co-operation agreement with China with a view to improve the trade balance and obtain USD 20 billion Chinese investments.
IT, teck, pharma, realty and auto shares attracted good buying support while refinery, metal PSU and capital goods counters suffered with losses.