Sensex, Nifty rise ahead of the US FED meeting; GAIL India, DLF, Tata Power stocks gain

Stock Market News: Ahead of the most-awaited US Fed meeting today, the Indian indices surged expecting some positive outcome from the Fed chief. The BSE Sensex surged 172 points and closed at 40,412 levels after the Closing Bell while the Nifty-50 index soared 53 points and closed at 11,910 levels. Bank Nifty index gained 96 points and closed at 31,256 levels.

Speaking on the current share market Simi Bhaumik, a SEBI registered technical equity analyst said, "Nifty has support at 1,900 levels. If the Nifty sustains above this level then we can expect it to further scale up to 12,100 levels. However, if it breaks 11,900 levels then we can expect further downside trend up to 11,760 to 11,800 levels." She said that Bank Nifty is under pressure and due to profit-booking in the banking counters, there can be some added pressure on the major Indian indices like Sensex and Nifty.

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Major shares that led to rise in the Indian indices iclude GAIL India share price that skyrocketed 5.68 per cent, Aurobindo Pharma shares rose 3.94 per cent, shares of Tata Power went northward 3.21 per cent, realty major DLF share price soared 4.8 per cent, Aditya Birla Capital stock price surged 3.86 per cent whhile NTPC shares added 2.82 per cent after the Closing Bell trade session.

Paying the price for failing to raise capital Yes Bank share price tanked over 15 per cent in the intraday trade session. Other shares that pull down Indian indices includes Sterlite Technologies share price that tanked 7.13 per cent, Allahabad Bank shares nosedived 5.85 per cent, shares of SREI Infrastructure went down 5.41 per cent, Dewan Housing Finance Limited or DHFL shares crashed 4.85 per cent while shares of Reliance Capital, Reliance Infrastructure and Reliance Power went down around 4.75 per cent.

Among the major Asian indices, the Japanese Nikkei 225 index closed 32 points down from its previous close, South Korea's Kospi scaled 7 points from its Tuesday closing, Hang Seng skyrocketed 208 points while Shanghai index rose 0.24 per cent.