Last Updated:
The benchmark BSE Sensex surged over 550 points to reclaim the 82,000-level in morning trade on Wednesday, following the Reserve Bank of India’s shift to a ‘neutral’ monetary policy stance, which could pave the way for potential rate cuts in future policies.
In early trading, the 30-share BSE Sensex jumped by 556.97 points, or 0.68 percent, reaching 82,191.78. Meanwhile, the broader Nifty on the NSE increased by 78.70 points, or 0.31 percent, to 25,091.85.
Global Cues
Meanwhile, markets in the Asia Pacific region, were down on Wednesday, with mainland China leading the loses.
Hong Kong’s Hang Seng index dragged 0.29 per cent after plummeting 9.41 per cent to close at 20,926.79 on the previous day.
Mainland China’s CSI 300 index was down 4.33 per cent, while the Shanghai Composite was down 3.68 per cent.
That apart, Japan’s Nikkei 225 was up 0.8 per cent, and the broader Topix was ahead by 0.31 per cent.
Australia’s S&P/ASX 200 was up 0.15 per cent, while South Korea’s markets remained closed for a public holiday.
On the previous day, a gauge of global stocks advanced after a rally on Wall Street overshadowed disappointment over the lack of details in China’s stimulus, as investor focus shifts to upcoming US inflation data and corporate earnings.
On Wall Street, US stocks closed sharply higher as the benchmark S&P 500 bounced back from a drop of nearly 1 per cent a day earlier, with a jump of more than 2 per cent in technology stocks providing key support.