The BSE benchmark, the Sensex was trading 149.4 points or 0.57% higher at 26,568.95 points, while the NSE's Nifty was trading 35.55 points or 0.45% higher at 7,948.75 points at 10.50 am IST. According to a Bloomberg report, global central bankers led by Yellen said labour markets still have further to heal before their economies can weather higher interest rates. Jackson Hole symposium is being held annually since 1978. The conference sees central bankers, finance ministers and academics gather to talk about the world economy.
Back home, experts remain upbeat on the economic recovery. "Macro fundamentals are indeed improving with confidence levels. The strength of recovery in corporate savings though will vary with sensitivity to interest rate cycle, the government policies, competitive dynamics of sector/companies, etc. Investors returns will eventually be determined by earnings and the price paid to own those earnings," Edelweiss said in a recent report.
Among sectoral indices, the BSE IT (0.93%), BSE Healthcare (0.65%) and BSE Bankex (0.56%) were trading in the green. Among individual stocks, Bhel (2.79%), TCS (2.12%) and HDFC (1.85%) were among the major gainers.
Asian indices showed a mixed trend. The Nikkei (0.49%), Kospi (0.11%), Straits Times (0.45%) and Taiwan Taiex (0.01%) were trading in the green. Meanwhile, Shanghai Composite (-0.41%), Jakarta Composite (-0.32%) and Hang Seng (-0.18%) were trading in the red.