Markets rebound as US Fed signals interest rate cut; Sensex rises 266 pts

The benchmark indices rebounded from their lowest close in nearly two months, tracking their regional peers.
 
This followed comments by US Federal Reserve Chairman Jerome Powell, who signalled willingness to lower interest rates.
 
The Sensex rose 0.7 per cent, or 266 points, to 38,823.1, while the Nifty advanced 0.73 per cent, or 84 points to end at 11,583. The Nifty gained for the first time in five sessions.
 
“Rate cut hopes in the US have bolstered equities across the globe. The slide in 10-year yield and strength in rupee, despite a surge in oil prices, may ease