Indices see wild swings after US Federal Reserve, RBI raise policy rates

After rising over 900 points in early trade, Sensex ends flat at session's end

It was a roller-coaster ride for the benchmark indices on Thursday as investors digested the Reserve Bank of India (RBI) and US Federal Reserve’s decisions to increase interest rates to combat soaring inflation.

Several stocks swung wildly as investors assessed the impact of aggressive tightening of monetary policy on economic growth and corporate earnings.

Following a three per cent up move in the US markets, the benchmark Sensex rose almost 900 points in early trade on Thursday. However, selling in the index heavyweights in the latter half of the session saw the index give up almost all the gains.

The Sensex ended the