Sensex, Nifty End Slightly Higher After Late Buying
(RTTNews) - Indian shares ended Wednesday's session slightly higher despite weak cues from global markets.
Adani Group stocks extended recent gains and oil prices fell sharply overnight, helping investors shrug off U.S. rate hike jitters.
Global cues were weak after Fed Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
The benchmark S&P/BSE Sensex fell to 59,844.82 in intraday trade before reversing direction to end the session up 123.63 points, or 0.21 percent, at 60,348.09 amid bottom fishing in select heavyweights.
The broader NSE Nifty index settled 42.95 points, or 0.24 percent, higher at 17,754.40, rising for a third straight session.
IndusInd Bank topped the gainers list to climb nearly 5 percent, while Bajaj Auto, Adani Enterprises and Adani Ports jumped 2-3 percent. On the losing side, Infosys, Tech Mahindra, Hindalco and Bajaj Finance dropped 1-2 percent.
The rupee weakened to 82.06 versus the dollar while oil prices extended losses in European trade, after having fallen between 3.5 percent and 4 percent Tuesday on concerns that aggressive rate hikes may dent demand for fuel in the U.S.
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