Guwahati: Indian equities jumped more than 500 points in the initial trade lifted by good quarterly results of domestic companies and as the US Federal Reserve hiked rates on the expected lines.

At 10 am, The 30-share BSE Sensex was trading at 56553.84 went up by a hefty 737 points while Nifty-50 was trading at 16841.70 rose by 199 points.
The US Federal Reserve's 0.75 percentage point hike in interest rates to tame inflation gave the market some relief which boosted the investor's sentiments.
Bajaj Finance surged 5.8% to its highest in nearly three months, topping gains on the Nifty 50 after the non-bank lender reported stronger-than-expected first-quarter results.
Tata Motors slid 2.8% in its biggest intraday drop in over a month after the automaker reported a bigger loss, hit by a cost jump.
SpiceJet dived 9.3% to a March 2020 low after India's aviation regulator halved the budget carrier's capacity, citing recent safety snags on Wednesday.
Nifty 50 components Dr. Reddy's Laboratories, Bajaj Finserv, and SBI Life Insurance are scheduled to report results later in the day.