By Malvika Gurung
Investing.com -- The domestic market made a positive opening on Wednesday ahead of the US FOMC’s two-day policy meeting’s results announcement later in the day, along with the Fed’s economic projections/outlook and Chair Jerome Powell’s press conference.
At the time of writing, the equity benchmark indices Nifty50 traded 0.32% higher and Sensex gained 218.82 points. Nifty Bank hit a new all-time high for the second consecutive session on Wednesday, jumping to a record high of 44,099.15 points and exceeding the 44,000 mark.
A softer-than-anticipated US CPI inflation for November at 7.1% compared to the Street’s expectation of 7.3% on an annual basis boosted sentiments and hopes that the Fed could pull back from aggressive rate hikes at its December policy meeting.
Gains on Nifty were led by NTPC (NS: NTPC ), Eicher Motors (NS: EICH ), Hindalco (NS: HALC ) and PowerGrid Corporation (NS: PGRD ), while heavyweights including Nestle (NS: NEST ) India, Bharti Airtel (NS: BRTI ) and M&M (NS: MAHM ) led the losses.
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