Sensex, Nifty Gain Ahead Of RBI Meet
(RTTNews) - Indian shares traded higher on Wednesday, tracking firm global cues and ahead of the RBI's interest-rate decision scheduled to be announced later in the day.
Underlying sentiment was helped by Fed Chair Jerome Powell's comments that he expects 2023 to be a year of "significant declines in inflation".
The benchmark S&P/BSE Sensex jumped 365 points, or 0.6 percent, to 60,651 in early trade, while the broader NSE Nifty index was up 116 points, or 0.7 percent, at 17,837.
Adani Group stocks traded higher, with Adani Enterprises rallying 10 percent and Adani Ports surging 7 percent.
SBI Life, Hindalco and UltraTech gained 2-3 percent.
Bharti Airtel fell over 2 percent despite reporting a 91 percent rise in Q3 consolidated net profit.
Hero MotoCorp lost 2 percent on reporting a 4 percent rise in quarterly profit.
Adani Green Energy jumped 3 percent after its consolidated net profit more than doubled during the December quarter.
Astral tumbled 3.3 percent after announcing a 1:3 bonus issue.
Aurobindo Pharma was little changed after receiving the U.S. FDA approval for its topical solution for osteoarthritis pain.
Union Bank of India dropped half a percent on fund raising reports.
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