The BSE Sensex and NSE Nifty opened on a positive note on Wednesday following firm global cues amid a rate cut of 50 bps by the Reserve Bank of India in its monetary policy review on Tuesday.
The BSE Sensex and NSE Nifty opened on a positive note on Wednesday following firm global cues amid a rate cut of 50 bps by the Reserve Bank of India in its monetary policy review on Tuesday. Sensex opened 207.86 points up at 25,986.52. Nifty opened 80.95 points up at 7,924.25. Metal stocks were trading higher in the opening trade.
Traders also got some support with a report that India has become the top destination for FDI in the world. With $31 billion of foreign capital inflows, India has surpassed China and the US to take the pole position in attracting largest FDI in the first half of 2015.
Asian stocks took an early positive lead from Wall Street, which ended slightly higher overnight as the US bourses took a breather, with the latest round of China fears that gripped global markets petering out for the moment. Investors also felt relief as shares of mining and trading giant Glencore gained more than 10 per cent overnight.
Hang Seng, Nikkei and Shanghai were up 0.94 per cent, 1.84 per cent and 0.38 per cent at 20749.60, 17243.21 and 3049.68, respectively.
Dow Jones Industrial Average gained 0.30 per cent at 16049.13 on Tuesday.
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