The markets on Wednesday morning were trading higher with Sensex at 63,000.67, up by 207.79 points and Nifty was at 18,665.75 with a gain of 66.75 points. Ultra Tech Cement, Nestle, Power Grid, Infosys and Tata Steel were the top gainers in the morning session.
Markets on Tuesday
Ahead of US Federal Reserve and Reserve Bank of India's meetings to decide on rate hikes, Sensex went up marginally by 57.81 points to end the day at 62,845.30. Nifty also stayed in the green above 18,600 points, as repo rates are expected to be left unchanged.
With investors awaiting inflation data and the Federal Reserve's policy meeting next week US markets ended higher on Tuesday. The Dow Jones Industrial Average added 10.42 points to 33,573.28, the S&P 500 rose by 10.06 to 4,283.85 and Nasdaq ended higher at 13,2276.42 up by 46.99 points.
The Asian stock markets on Wednesday were mixed with Singapore's SGX Nifty up by 29 points at 18,708 and Hong Kong's Hang Seng was at 19,326.83 with a gain of 227.55 points and South Korea's KOSPI was higher with an addition of 7.93 points at 2,623.34. However, Japan's Nikkei 225 dropped 380.51 points at 32,126.27.
Oil prices on Wednesday were relatively stable as Saudi Arabia's pledge to deepen output cuts created fear for tighter global supply which could impact the demand. Brent crude futures was up 9 cents at $76.38 per barrel and US West Texas Intermediate crude was at $71.85 per barrel with a gain of 11 cents.
Indian rupee on Wednesday opened higher at 82.56 per dollar against Tuesday's close of 82.61.