BENGALURU: Domestic indices edged higher on Wednesday led by metals and energy companies amid gains in Asian stocks, while investors waited for US inflation data for the day to signal the pace of interest rate hikes from the Federal Reserve. .
nifty was up 0.29% at 16,287.90 as of 0348 GMT, while Sensex rose 0.21% to 54,480.36. The benchmark index posted losses for the third consecutive session on Tuesday.
The Nifty metal index, which had closed 5.2 per cent lower in the previous session, rose 1.7%. Nifty’s Energy, Finance and Auto sub-indexes were also among the gainers between 0.6% and 1%.
Nifty 50 constituent Adani Ports, up 1.6%, is set to report quarterly results later in the day.
Drugmaker Cipla was down 1.9%, compared with a 0.15% fall in the Nifty Pharma index. The company reported a consolidated net profit of Rs 3.62 billion in the March-quarter, down 12.4% from a year ago.
Asian stocks gained on Wednesday after hitting two-year lows in the previous session before eagerly awaited US inflation data. US Consumer Price Index data for April is due later in the day at 1230 GMT.
nifty was up 0.29% at 16,287.90 as of 0348 GMT, while Sensex rose 0.21% to 54,480.36. The benchmark index posted losses for the third consecutive session on Tuesday.
The Nifty metal index, which had closed 5.2 per cent lower in the previous session, rose 1.7%. Nifty’s Energy, Finance and Auto sub-indexes were also among the gainers between 0.6% and 1%.
Nifty 50 constituent Adani Ports, up 1.6%, is set to report quarterly results later in the day.
Drugmaker Cipla was down 1.9%, compared with a 0.15% fall in the Nifty Pharma index. The company reported a consolidated net profit of Rs 3.62 billion in the March-quarter, down 12.4% from a year ago.
Asian stocks gained on Wednesday after hitting two-year lows in the previous session before eagerly awaited US inflation data. US Consumer Price Index data for April is due later in the day at 1230 GMT.