Global cues push equities markets higher

Positive global cues, coupled with a strengthened rupee, pushed the Indian equities markets higher on Wednesday.

Besides, an exponential rise in Reliance Industries Ltd (RIL) stocks, a day after Reliance Jio announced its tariff plans, buoyed investors sentiments.

However, caution prevailed ahead of the release of minutes of the US Fed's Federal Open Market Committee (FOMC) and the Reserve Bank of India's Monetary Policy Committee (MPC) as well as derivatives expiry.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 19.05 points or 0.21 per cent to 8,926.90 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,822.40 points, provisionally closed at 28,864.71 points (at 3.30 p.m.) -- up 103.12 points or 0.36 per cent, from the previous close at 28,761.59 points.

The Sensex has so far touched a high of 28,963.52 points and a low of 28,789.30 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears -- 1,748 declines and 1,092 advances.

On Tuesday, the benchmark indices touched their new closing highs of 2017 on the back of an announcement of a share buy-back by IT major Tata Consultancy Services (TCS) and healthy buying support in the banking sector.

The NSE Nifty rose by 28.65 points or 0.32 per cent to close at 8,907.85 points, and the BSE Sensex was up 100.01 points or 0.35 per cent at 28,761.59 points.

--IANS

rv/vt