Domestic stock markets started Wednesday’s session with a positive stance amid cautious gains in global equities ahead of the outcome of the two-day policy meeting of the US central bank. The S&P BSE Sensex climbed 117.05 points – or 0.30 percent – to touch 39,161.40, the strongest level in early trading, and the broader NSE Nifty 50 benchmark climbed to 24,575.55, 24.75 points – or 0.21 percent – from its previous. Close it. In most areas, interest markets gained momentum.
At 9:21 am, the Sensex traded higher at 60.91 points – or 0.16 percent – at 39,105.26, while the Nifty was at 17.25 points – or 0.15 percent – at 11,539.05.
Analysts await a keynote speech by Reserve Bank of India Governor Shaktikanta Das to members of industry body FICCI.
Earlier this week, official data showed that consumer inflation in the country moderated slightly in August, but remained above the fifth week of the RBI’s medium-term target, endorsing that the central bank would make its upcoming The review will avoid lowering key rates, October.
Shares rose in other Asian markets on Wednesday, buoyed by Chinese and US economic data, and took out a rally as investors awaited the Federal Reserve’s outlook on the world’s largest economy at its policy meeting.
After strong industrial production and retail sales data from China and high US factory production investors are focusing on the US central bank’s policy statement to be held on Wednesday, Chair Jerome Powell announced increased tolerance for higher inflation .