Equity indices traded higher in early hours; Tata Motors, Bajaj Auto among top gainers

Bombay Stock Exchange , BSE, 9622.80 points, Goods and Services Tax, GST,

Equity benchmark indices traded higher during early hours on Wednesday following gains in global markets.

Meanwhile, investors awaited the outcome of Reserve Bank of India’s six-member Monetary Policy Committee (MPC) meet to see if it will cut key interest rates again a day later after keeping status quo in the previous policy.

At 10:15 am, the BSE S & P Sensex was up by 183 points to 40,972 while the Nifty 50 ticked up by 52 points at 12,032. Most sectoral indices at the National Stock Exchange were in the green with Nifty realty up by 1.7% and auto by nearly 1%.

Among stocks, Tata Motors accelerated by 4.4% at Rs 173.05 per share while Mahindra and Mahindra was up by 1.8% and Bajaj Auto by 1.6%.

Reliance Industries continued its Tuesday’s pace and was up by 1.3% at Rs 1,444.55 per share.

The other prominent gainers were UPL, Bharti Infratel, HCL Technologies and Britannia.

However, Zee Entertainment fell by 3.2%, Adani Ports by 1.8%, ITC by 1.4% and Hero MotoCorp by 1.3%. IT majors Infosys and Wipro were down by 1.2% and 1% respectively along with Yes Bank which dipped by 0.8%.

Meanwhile, Asian stocks steadied on hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak. The illness continues to spread and the death toll neared 500.

MSCI’s broadest index of Asia Pacific shares outside Japan was up by 0.3% while Japan’s Nikkei stock index rose by 1.19%. Shares in China rose by 0.5% while stocks in Hong Kong climbed by 0.42% in early trading.

(With ANI Inputs)

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