NEW DELHI: Markets are likely to witness a positive session on Wednesday after
Federal Reserve Chairman
Jerome Powell's U.S. economic outlook reinforced views to steadily hike interest rates.
The benchmark
BSE Sensex on Tuesday had started on positive and advanced to a high of 36,549.55, but profit booking in heavyweight HUL, ITC and Infosys trimmed its gains. The barometer had touched a low of 36,261.78 before settling at 36,519.96, a gain of 196.19 points, or 0.54 per cent. The BSE index had retreated from record closing level by losing 224.64 points in the previous two sessions.
"Oil & gas, banking and pharma sector stocks stole the show, lifting
Sensex to almost a new high," Manoj Choraria, a Delhi-based NSE broker had said.
The 50-share
NSE Nifty
had settled higher by 71.20 points, or 0.65 per cent, at 11,008.05. The NSE index had shuttled between 11,018.50 and 10,925.60 yesterday.
Vinod Nair, Head of Research, Geojit Financial Services Ltd had said, "Market regained 11000 mark, given the strong earnings and benign yield despite rise in inflation. Additionally, drop in oil price and strengthening rupee may contain inflationary pressure. PSU banks outperformed due to prospects of government's recapitalisation plan."
SBI, PNB, ICICI Bank, RIL, Sun Pharma are among some stocks to watch out today.
(With inputs from agencies)