From the Sensex basket, JSW Steel, Tata Steel, Kotak Mahindra Bank, HDFC Bank, Tata Motors, and Larsen & Toubro were the major gainers. In Asian markets, Seoul and Shanghai were quoting in the green while Tokyo traded lower.

"The uncertainty regarding the Fed decision is over with the Fed keeping the rates unchanged and refraining from a hawkish message. The Fed chief's statement that "inflation has eased substantially while the labour market has remained strong" conveys conviction about the soft landing of the US economy and the possibility of probably three rate cuts this year.