Stock markets: Benchmark equity indices climbed in early trade on Wednesday, tracking the rally in global markets and fresh foreign fund inflows. Rising for the fourth straight session, the 30-share BSE Sensex climbed 235.1 points to 63,027.98. The NSE Nifty advanced 77.05 points to 18,676.05.
From the Sensex pack, Nestle, Power Grid, Larsen & Toubro, Axis Bank, Hindustan Unilever, Infosys, UltraTech Cement, Wipro, IndusInd Bank and Tata Consultancy Services were the major gainers. HCL Technologies, Kotak Mahindra Bank, Tata Motors and Mahindra & Mahindra were among the laggards.
In Asian markets, Seoul, Shanghai and Hong Kong were trading in the green, while Tokyo quoted lower. The US markets ended in positive territory on Tuesday.
The Reserve Bank’s rate-setting monetary policy panel began deliberations on Tuesday and the decision would be announced on June 8. Global oil benchmark Brent crude dipped 0.42 per cent to USD 75.97 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 385.71 crore on Tuesday, according to exchange data.
ALSO READ: Markets trade firm in early trade amid rally in global equities
Rupee rises against US dollar
Meanwhile, the rupee gained 8 paise to 82.52 against the US dollar in early trade on Wednesday amid a positive trend in domestic equities.
The domestic currency is trading in a narrow range as market participants are vigilant ahead of RBI’s monetary policy outcome on Thursday. RBI is largely expected to leave the repo rate unchanged at 6.5 per cent. At the interbank foreign exchange, the rupee opened at 82.56 against the dollar, then rose to 82.52, registering a gain of 8 paise over its previous close.
(With inputs from PTI)
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