The broader markets also traded in line with benchmarks as the BSE Midcap and Smallcap indices gained 0.8 percent each.
10:40 am M&M plunges 5%:
Supreme Court has put a ban on registration of diesel vehicles (having over 2000cc engine capacity) partially in Delhi.
The court says order on diesel vehicle ban will not impact common man, adding hiked pollution tax on commercial vehicles entering Delhi to Rs 1,400-2600.
10:20 am Gold Update: Gold ticked higher as investors awaited the conclusion of a Federal Reserve policy meeting at which the US central bank is expected to raise rates for the first time in nearly a decade.
The Fed began a two-day meeting on Tuesday which is widely expected raise the central bank’s target rate by 25 basis points, ending eight years of loose monetary policy. Higher rates would dent demand for non-interest-paying gold, while boosting the dollar. The Fed decision will be released on Wednesday at 1900 GMT.
Spot gold rose 0.5 percent to USD 1,065.60 an ounce, after closing lower in the last two sessions.
Also read – Wipro issues Q3 revenue warning over Chennai floods
10:00 am Market Check
Equity benchmarks extended gains for the third consecutive session today, driven by positive global peers ahead of outcome of Federal Reserve’s two-day policy meeting.
The 30-share BSE Sensex rose 195.36 points or 0.77 percent to 25515.80 and the 50-share NSE Nifty climbed 59.85 points or 0.78 percent to 7760.75. The broader markets also traded in line with benchmarks as the BSE Midcap and Smallcap indices gained 0.8 percent each.
The market breadth was strong as about 1421 shares advanced against 490 declining shares on the Bombay Stock Exchange.
M&M, Wipro and Tata Motors are major losers while NTPC, TCS, HDFC twins and Tata Steel.
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