Mumbai, Jan. 29 -- The Nasdaq surged 391.75 points (2.0%) to 19,733.59, partly offsetting the 3.1% plunge seen during yesterday's session. The S&P 500 also jumped 55.42 points (0.9%) to 6,067.70 while the narrower Dow rose 136.77 points (0.3%) to 44,850.35.

Nvidia (NVDA) surged 8.8% after a 17% plunge, though buying interest remained subdued as traders awaited the Federal Reserve's monetary policy announcement on Wednesday. The Fed is expected to leave interest rates unchanged, but its statement will be closely watched for future rate clues. While some economists worry rates may stay high for an extended period, many anticipate cuts in the first half of the year. The CME FedWatch Tool indicates a 74.5% chance of a quarter-point rate cut ...