Sensex, Nifty Modestly Higher; FMCG Stocks Underperform
(RTTNews) - Indian shares were seeing modest gains in early trade on Wednesday ahead of the Reserve Bank of India's (RBI's) monetary policy decision later in the day and TCS' quarterly earnings due Thursday.
Underlying sentiment was underpinned after Wall Street's major indexes staged a comeback overnight and oil prices fell from recent highs on concerns around China's economic outlook.
The benchmark S&P/BSE Sensex was up 163 points, or 0.2 percent, at 81,798 after rising 0.7 percent in the precious session to snap a six-session losing streak.
The broader NSE Nifty index was up 59 points, or 0.2 percent, at 25,072 after climbing 0.9 percent on Tuesday.
Bajaj Finance, Tech Mahindra, Tata Motors, Trent and Shriram Finance were up 2-3 percent while Nestle India fell around 3 percent and ONGC dropped 1.8 percent.
FMCG companies such as Britannia Industries, ITC and Hindustan Unilever fell 1-2 percent.
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