Market hits a green opening, up by 195 points

Market hits a green opening, up by 195 points

According to market observers, some caution prevailed ahead of the US Federal Reserve's meeting slated to begin later in the evening.

The benchmark BSE Sensex rose 226.86 points, or 0.69 percent, at 33,223.62 in opening trade. The upmove was supported by buying witnessed in finance, infrastructure and realty stocks, with the NSE's sectoral indices ending between 0.7 per cent and 0.9 per cent higher.

Mumbai: The rupee edged marginally higher by 1 paisa to 65.19 against the U.S. dollar in early trade ahead of the Federal Reserve's policy decision on Wednesday.

The market is convinced the Fed will announce a quarter point hike at 1800 GMT, but are less sure if it will signal three or four for the year as a whole.

Nifty of National Stocks Exchange (NSE) too gained by 98.05 points to 10,222.40.

Major gainers included ONGC, Bharti Airtel, SBI, Axis Bank, Yes Bank, Infosys, Sun Pharma, L&T, RIL, ITC, Kotak Bank, IndusInd Bank, Adani Ports, ICICI Bank, Maruti Suzuki and TCS.

Foreign portfolio investors (FPIs), meanwhile, bought shares worth Rs 344.16 crore on a net basis, while domestic institutional investors (DIIs) purchased equities to the tune of Rs 731.17 crore on Tuesday, provisional data showed.

Asian markets like Japan's Nikkei, China's Shanghai Composite and Hong Kong's Hang Seng were down around 0.3-0.5 percent.

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