Stock Markets Trade Higher

Domestic stock market indices were trading with modest gains on Wednesday. At around 10 a.m., the Nifty rose 100 points to 23,219, while the Sensex gained 322 points to trade at 74,326. Investors remained cautious ahead of the US Federal Reserve’s policy decision. Within the Nifty 50, Nestle India, ITC and Mahindra & Mahindra were among the top gainers.

In the broader market, the Nifty Midcap index fell 0.25%, while the Nifty Smallcap index declined 0.56%. Among sectors, the Nifty FMCG index gained more than 1%, while the Nifty Pharma index was the biggest decliner. The US Dollar Index stood at 99.34, while Brent crude was priced at $108.41 a barrel. The US 10-year Treasury yield reached 5%, while the S&P 500 and Nasdaq fell 0.4% and 0.8%, respectively, in the previous session.