Indian stock market experienced a slight increase on Wednesday, in anticipation of the U.S. CPI data for March and Federal Reserve's March meeting minutes, expected to be released later in the day.
The S&P BSE Sensex, a standard benchmark, fluctuated within a narrow range before settling up by 354.45 points, equating to a 0.47 percent increase, and closing at 75,038.15 points.
Furthermore, the broader NSE Nifty index saw a rise of 111.05 points, an increase of 0.49 percent, bringing it to 22,753.80.
Hindalco, Kotak Mahindra Bank, ITC, BPCL, and Coal India saw a surge between 2-4 percent, whereas shares of Shriram Finance, Divis Laboratories, Maruti Suzuki India, Cipla and HDFC Life fell by 1-2 percent.
The international signals were ambiguous, as investors were eagerly waiting for the U.S.'s inflation data, records of the FOMC meeting, and the forthcoming ECB policy meeting.
After two days of decline, oil prices increased, while gold dipped slightly, however, its price remained close to record highs due to concerns around the Russia-Ukraine conflict, unrest in the Middle East, and support from funds that follow market momentum.
Please note that the Indian markets will observe a break from trading on Thursday, 11 April 2024, in celebration of Eid al-Fitr.
