Early Trade: Reliance and Tata Consultancy services purchases cause markets to climb.
The NSE Nifty is up 82.25 points to 23,347.10, while the BSE Sensex is up 252.62 points to 76,709.21.
Mumbai: On Wednesday morning, buying in blue-chip companies Reliance Industries and Tata Consultancy Services led benchmark equity indices to rise higher in early trading.
In early trading, the 30-share BSE Sensex increased by 252.62 points to 76,709.21. To reach 23,347.10, the NSE Nifty increased by 82.25 points.
HCL Technologies, Tech Mahindra, Wipro, Power Grid, Tata Motors, Tata Steel, Tata Consultancy Services, and Reliance Industries were the top gainers among the 30 Sensex businesses.
Among the laggards were Titan, Asian Paints, IndusInd Bank, and Hindustan Unilever.
Seoul traded positively in Asian markets, but quotes from Tokyo, Shanghai, and Hong Kong were down.
Tuesday's US market close was largely positive.
The last five days have seen a 32% fall in the India VIX, indicating that the market has entered a consolidation phase and that the days of increased volatility are over. The emphasis going forward would be on news flows and fundamentals, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The path of the global share market will be determined by the US inflation figures released tonight and the Fed's policy decision, he continued.
The benchmark for world oil, Brent crude, increased by 0.42 percent to USD 82.26 a barrel.
According to market statistics, foreign institutional investors (FIIs) offloaded stocks worth Rs 111.04 crore on Tuesday.
On Tuesday, the BSE benchmark fell 33.49 points, or 0.04 percent, to end the day at 76,456.59. The Nifty ended slightly higher at 23,264.85, or 0.02 percent, after a tumultuous trade.
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