Indian shares opened marginally higher on Wednesday after a three-session winning streak, with traders expecting the market to see incremental moves ahead of the domestic central bank’s interest rate decision later in the week.
The NSE Nifty 50 was up 0.22% at 24,514.3 points, as of 9:29 a.m.
IST, while the BSE Sensex gained 0.21% to 81,023.69.
Ten of the 13 major sectors advanced.
The broader, more domestically focussed smallcaps and midcaps gained about 0.3% each.
Both the Nifty and Sensex rose about 0.75% in the last session and are now roughly 7% below their all-time highs reached in late September.
Indian shares set to open higher, tracking Asian peers
The benchmarks slipped into correction territory in early November. Domestic equities will likely see incremental gains in the next two sessions ahead of the Reserve Bank of India’s (RBI) monetary policy decision on Friday, two traders said.
The RBI is expected to hold rates steady due to high inflation, but its commentary will likely be pivotal for markets following a sharp growth slowdown in the September quarter.
Source: Brecorder
