Indian stock markets opened higher on Wednesday ahead of US Federal Reserve's policy meet outcome.
Indian stock markets opened higher on Wednesday, with the BSE Sensex rising over 150 points and the Nifty50 of the National Stock Exchange edging up over 0.30 per cent ahead of US Federal Reserve’s policy meet outcome. According to market experts, continued buying by domestic institutional investors supported the upward trajectory of the benchmark indices. Among the sectoral indices, IT, consumer durables and healthcare stocks led the rally. Out of 1,231 trading companies, 827 were in advances and 352 were in declining trend indicating a bullish sentiment in the market. Both the indices had closed at four-month highs on Tuesday amid positive global cues.
The BSE Sensex rose almost 184 points to an intra-day high of 35,877.41 points on Wednesday, while the Nifty50 surged close to 50 points to a high of 10,888.90 points. The Bank Nifty was trading higher by 0.25 per cent on the NSE. Sun Pharma, TCS, Wipro, Infosys and Yes Bank were the top gainers on the BSE. Among the losers were Bharti Airtel, HUL, ONGC, Kotak Bank and HDFC. Healthcare stocks Lupin, Sun Pharma and Cipla shone on the NSE.
On Wednesday, Asian shares slipped as investors shifted focus from the historic U.S.-North Korea summit in Singapore to the Federal Reserve policy decision later in the day which may hint at future rate hikes, Reuters reported. Erasing the slim gains made a day before, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5 percent. Technology shares continued to lead the rally on the Wall Street, with the Nasdaq Composite adding 0.57 percent to finish at record high of 7,703.