Asian markets edged higher as investors positioned for the possibility that weaker-than-expected US data will prompt the Federal Reserve to adopt a cautious stance this week. US stocks closed sharply higher yesterday, as the USD rally paused ahead of the Federal Reserve’s two-day policy meeting.
The 30-share index saw all sectoral indices trading in the green with healthcare, auto, FMCG, metal, consumer durable, bank and power segments leading the pack.
The benchmark S&P BSE Sensex resumed higher at 28,595 and improved further to quote at 28,744.47 at 1100 hrs, showing a rise of 306.76 points or 1.08%.
The 50-issue CNX Nifty of the NSE also bounced back by 92.80 points or 1.07 % to quote at 8,725.95 at 11:00 hrs.
The prominent gainers from the Sensex pack were, Hindalco 3.31 %, SSLT 3.26 %, Tata Motors, 3.09 %, Dr Reddy 2.78 %, Cipla 2.32 %, Tata Steel 2.08 %, HDFC 1.86 %, Sun Pharma 1.78 %, TCS 1.39 %, Axis Bank 1.34 %, ITC 1.21 % and L&T 1.16 %.
From Asia, key indices from China, Hong Kong, Japan, Singapore, South Korea and Taiwan were trading higher by 0.24 % and 1.75 %. The Dow Jones Industrial Average and the Nasdaq Composite Index closed up by 1.29 % and 1.19 % respectively on Wall Street yesterday.
Meanwhile FII’s sold shares worth Rs 762.55 crore yesterday as per provisional data
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)