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Sensex, Nifty End Marginally Higher; Banks Decline
(RTTNews) - Indian shares ended Wednesday' session marginally higher as easing Middle East tensions offset the modestly hawkish tone of the FOMC minutes.
Hamas and Israel have agreed to a Qatar-mediated pause in fighting, helping ease Middle East tensions.
The U.S. dollar recovered from 2-1/2-month low but remained near recent lows after the FOMC meeting minutes largely reaffirmed the U.S. central bank's more cautious stance on interest rates.
Oil prices fell after a substantial build in U.S. crude stocks, while Treasury yields were mixed due to lingering concerns about slowing global growth.
The benchmark S&P BSE Sensex ended the session up 92.47 points, or 0.14 percent, at 66,023.24 while the broader NSE Nifty index edged up 28.45 points, or 0.14 percent, to close at 19,811.85.
State-run oil marketing firm BPCL topped the gainers list to climb 3.7 percent after proposing interim dividend.
NTPC, Infosys, Bajaj Auto and Cipla all rose over 1 percent.
Banks and commodity-related stocks ended on a weak note, with Adani Enterprises, Hindalco, Adani Ports, Kotak Mahindra Bank and IndusInd Bank falling 1-2 percent.
RBI Governor Shaktikanta Das said at the annual FIBAC event today that the recent stricter norms on unsecured lending were aimed at sustainability.
He clarified that certain sectors like housing and vehicle loans, along with small business credits, were exempted, due to their positive impact on economic growth.
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