Markets gain on dovish comments by US Fed chairman; Sensex rise 378 points

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Markets gain on dovish comments by US Fed chairman; Sensex rise 378 points - Business Standard

Quick Summary:

Powell's comments were perceived as dovish by equity investors who took it as a cue for going soft on monetary tightening.

Sentiment towards risky assets improved after Fed chairman Jerome Powell said disinflation has begun and there could be a significant reduction in price rises this year.

The Sensex rose 378 points, or 0.6 per cent, to end the session at 60,664.