Stock brokers react while looking at stock prices on a computer screen at the BSE building in Mumbai. File photo | Photo Credit: PTI
The benchmark indices started trade on a positive note on Wednesday, December 14, 2022, extending their previous day’s rally in line with the strong trends in the global market.
BSE’s 30-share Sensex climbed 250.14 points to reach 62,783.44 points. The broader NSE Nifty rose 75.5 points to 18,683.50.
From the Sensex pack, Power Grid, Wipro, Tech Mahindra, NTPC, Tata Consultancy Services, HCL Technologies, Larsen & Toubro and State Bank of India were the major gainers.
Only Bharti Airtel lagged behind.
Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai and Hong Kong were trading in the green.
US markets closed with gains on Tuesday.
Research analyst Prashant Tapase said, “All eyes will be on the US Federal Open Market Committee (FOMC) meeting on interest rates later in the day as the outcome will set the tone for rest of the equity markets across the world.” Sr. VP (Research), Mehta Equities Ltd.
On Tuesday, the Sensex climbed 402.73 points or 0.65 percent to close at 62,533.30. The Nifty closed at 18,608, up 110.85 points or 0.60 per cent.
The lower-than-expected November CPI inflation in the US confirms the market expectation that the Fed will hike rates by only 50 basis points on Wednesday, said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
International oil benchmark Brent crude fell 0.20 per cent to $80.51 per barrel.
Foreign institutional investors (FIIs) bought shares worth Rs 619.92 crore on Tuesday, according to exchange data.