Sensex gains, seen better insulated from Fed worries

The BSE Sensex and Nifty rose on Thursday, heading for a second straight session of gains after hitting a nearly 2-1/2 week low on Tuesday.

The benchmark BSE Sensex and the broader Nifty gained 1.2 percent as of 11:15 a.m.

Shares of blue-chips rose.

Larsen & Toubro gained 2.5 percent while ITC rose 0.99 percent.

Equity gains on Thursday outpaced a 0.7 percent fall in MSCI Asia-Pacific ex-Japan.

Traders said India is likely to better weather any Fed-related volatility due to improving economic fundamentals.

The U.S. Federal Reserve on Wednesday renewed its pledge to keep interest rates near zero for a "considerable time."

But some investors were spooked after the U.S. central bank indicated it could raise rates faster than expected when it starts moving.

 

(Reporting by Abhishek Vishnoi)