Sensex surges over 250 points while Nifty tops 17,900 in early trade

The Sensex rose more than 250 points in early trade on Wednesday, powered by advances in index heavyweights Reliance Industries, L&T, and Infosys, after a favorable trend in US markets ahead of the US Fed’s policy decision.

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In early trade, the 30-share index was trading 282.15 points, or 0.47%, higher at 60,311.21. Likewise, the Nifty gained 84.20 points, or 0.47%, to 17,973.15.

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Tech Mahindra led the Sensex pack with a 2%, followed by L&T, NTPC, Bajaj Finance, SBI, and UltraTech Cement.

On the other hand, Sun Pharma, Titan, Asian Paints, HDFC Bank, and HUL were laggards.

The 30-share index declined 109.40 points, or 0.18%, to 60,029.06 in the previous session, while the Nifty slid 40.70 points, or 0.23%, to 17,888.95.

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According to exchange statistics, foreign institutional investors (FIIs) became net buyers in the capital market on Tuesday, purchasing shares worth Rs 244.87 crore.

In other Asian markets, bourses in Shanghai, Hong Kong, and Seoul were trading down in mid-session trades, while the Tokyo stock exchange was closed on Wednesday.

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Stock markets in the United States completed the overnight session with advances ahead of the Federal Reserve’s policy decision, which is due tonight.

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Meanwhile, Brent crude, the international oil benchmark, slipped 1.24% to USD 83.67 a barrel. In early trade, the rupee rose 14 paise to 74.54 against the US dollar.