Indices take US Federal Reserve rate hike in stride to rise for second day

Experts also said the sharp bounce in China's market is favourable for global equities

The country’s benchmark indices logged a near 2 per cent rise for the second day in a row even as the US Federal Reserve kicked off its interest rate increase cycle on Wednesday.

The benchmark Sensex posted back-to-back 1,000-point-plus gains even as the Fed raised rates by 25 basis points and indicated an aggressive path ahead with six more hikes this year. The Sensex ended the session at 57,864, with a gain of 1,047 points or 1.8 per cent. 

The Nifty, on the other hand, closed at 17,287 points, a gain of 311 points or 1.8 per cent. The Sensex ended the