In the early trade on Wednesday, the stocks in India experienced a marginal increase. This cautious progress in the market was primarily due to investors' anticipation of the Federal Reserve's decision concerning interest rates. While it is largely expected that the rates would remain unchanged, the accompanying statement could significantly influence the future direction of these rates.
Among indexes, the benchmark S&P BSE Sensex rose by 250 points, logically equivalent to a 0.3% increase, marking the index at 71,400. A similar trend was noticed in the broader NSE Nifty index, which increased by 83 points or 0.4%, reaching a level of 21,605.
Auto manufacturing companies saw a positive inclination, featuring Tata Motors which escalated by 3.6% and Eicher Motors which augmented by 1.5%. Other firms such as ONGC and Mahindra & Mahindra also received a growth of about 1.5%.
Additionally, Dr Reddy's Laboratories reported an improvement of 1.4% based on an 11% increase in their Q3 net profit. Stocks from the Adani Group also traded higher, with Adani Ports escalating over 1%. TCS experienced a growth of half a percent after securing a 15-year deal from the UK's Aviva.
On a contrary note, despite a 15% growth in quarterly profits, Larsen & Toubro experienced a drop of over 6%. Ahead of an emergency arbitration in Singapore, Zee Entertainment Enterprises' shares also fell around 1%.
