After falling for two days, equity benchmark indexes rose 327 points in early trade on Wednesday, aided by buying in index heavyweight Reliance Industries and bullish trends in Asian markets.

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In early trading, the 30-share BSE Sensex rose 326.98 points to 54,379.59. The NSE Nifty rose 98.2 points to 16,223.35.

IndusInd Bank, Nestle, Kotak Mahindra Bank, Reliance Industries Limited, NTPC, and HDFC were among the Sensex pack’s early gainers. Asian Paints, Tech Mahindra, TCS, HCL Technologies, Wipro, and Tata Steel, on the other hand, were among the laggards.

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On Tuesday, the BSE benchmark fell 236 points, or 0.43%, to 54,052.61. The Nifty fell 89.55 points or 0.55% to 16,125.15.

Asian markets in Hong Kong, Shanghai, and Seoul were trading higher, while Tokyo was trading slightly down. On Tuesday, stock markets in the United States finished largely down.

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Foreign institutional investors continued their selling frenzy on Tuesday, offloading shares worth a net Rs 2,393.45 crore, according to stock market data.

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“All eyes will be on the FOMC (Federal Open Market Committee) minutes later on Wednesday which would give clarity on the Fed’s rate-hike path in the near term. Also, selling by the FII camp continues to be the biggest negative catalyst for Dalal Street,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

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Brent crude, the international oil standard, rose 1.16% to USD 114.88 per barrel. The rupee rose 5 paise to 77.52 against the US dollar in early trade on Wednesday, as a strong trend in domestic equities improved investor mood.