Overview
- Sensex opened up 104.24 points to 82,495.96 and the Nifty added 36.70 points to 25,140.95 in early Wednesday trade.
- The Reserve Bank of India’s 50 basis point repo rate reduction has buoyed sectoral indices, with banks and financials leading the market ascent.
- Positive progress in US-China trade negotiations in London propelled global markets, lifting Wall Street benchmarks.
- The Nifty has sustained trading above its previous consolidation zone and reached an eight-month intraday high of 25,160 earlier this week.
- Market participants are watching US May retail inflation data set for release on Wednesday to assess the Federal Reserve’s policy outlook and future market direction.