Indian equities bounced back on Thursday snapping earlier losses on strong cues from Asian and US markets after the Federal Reserve left US interest rates unchanged and slowed the pace of future hikes.

At 9.19 a.m, the Sensex was trading up 316.96 points or 1.11% at 28,824.38 with 28 components gaining. Meanwhile, the Nifty was trading higher by 96.20 points or 1.10% at 8,873.35 with 48 components gaining.

Biggest gainers in the 30-share index were ICICI Bank (2.45%), Hero Motocorp (2.34%), State Bank Of India (2.29%), Bharat Heavy Electricals (1.84%), Tata Steel (1.79%), and Axis Bank (1.76%).

On the other hand, and Infosys (0.06%) were the only losers in the Sensex.

Market breadth was positive with 961 advances against 111 declines.

Gujarat Pipavav Port topped the value chart on the BSE with a turnover of Rs. 312.21 million. It was followed by Asahi Songwon Colors (Rs. 109.47 million), Sadbhav Infrastructure Project (Rs. 109.23 million) and I C I C I Bank (Rs. 39.21 million).

The volume chart was led by Gujarat Pipavav Port with trades of over 1.79 million shares. It was followed by Sadbhav Infrastructure Project (1.02 million), G T L Infrastructure (0.94 million) and Asahi Songwon Colors (0.52 million).