Sensex Gains 727 Points In Morning Trade, Nifty Metal Registers Sharp Surge

Sensex gained more than 727 points in early trade on September 20, 2022 amid the continuous uncertainty prevailing over the quantum of US Federal Policy rate hike. It is worth mentioning that Federal Reserve meets today and if initial reports are to be believed may announce a 75 basis point interest rate hike.

Domestic investors displayed a fearless approach today and pushed the markets higher in early trade.

US Markets and Asian Markets witnessed buying thus boosting the market sentiments.
BSE sensex gained 727 points in early trade or 1.23% to 59,86 while broader NSE Nifty surged by 230 points or 1.31% to 17,853.

The top gainers in the markets in morning trade emerged Hero Motocorp with 3.61% gain, IndusInd Bank with 3.19% gain, Tata Motors with 3.11% gain, Cipla with 2.97% gain, and Hindalco with a gain of 2.55%.

Nearly all the sectoral indices remained in green. Nifty Metal made sharpest gain followed by banks and financial indices.

Earlier according to a PTI report, Prime Minister Narendra Modi said today the fintech sector needs to work relentlessly on safety and reliability to uphold trust of the people. In his message at the Global Fintech Fest, Modi said the sector has been an example of the wonders that can be worked when a government that encourages innovation comes together with the energy of young and inventive minds.

"Innovation for inclusion has been our mantra, leading to the revolution in public delivery ensured by the JAM Trinity, success of UPI in making digital payments a way of life, and India's global rise in the fintech and startup space as a hub of innovation and investment," Modi said in the message which was read out by Kris Gopalakrishnan, Chairman, GFF 2022 Advisory Board.