The benchmark BSE Sensex rose over 100 points in early trade extending gains for the third session, after US Federal Reserve announced the widely-expected hike in key lending rate.
The 30-share index was trading 102.07 points, or 0.31 %, higher to 33,238.25. The gauge had gained 213.06 points in the previous two sessions.
Sectoral indices, led by healthcare, metal, capital goods, oil & gas infrastructure, auto and FMCG, gained up to 0.57 %.
ADVERTISEMENT
The NSE Nifty also advanced by 32.70 points, or 0.32 %, to 10,187.95.
Major gainers that supported the uptrend were ONGC, Sun Pharma, Tata Motors, Reliance Industries, ITC, Tata Steel and L&T, rising up to 3.05 %.
Brokers said sustained foreign fund inflows, increased buying by domestic institutional investors (DIIs) and a mixed trend in other Asian bourses, after the Fed rate hike, influenced the market.
ADVERTISEMENT
An appreciating rupee against the dollar also supported investor sentiment, they said.
Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth ₹ 98.44 crore, while DIIs purchases equities to the tune of ₹ 197.78 crore on Wednesday, provisional data showed.
Among other Asian markets, Japan’s Nikkei was trading higher by 0.38 %, while Hong Kong’s Hang Seng fell 0.61 % in their early deals. The Shanghai Composite index was down by 0.93 %.
The US Dow Jones Industrial Average ended 0.18 % lower in Wednseday’s trade.