Sensex rises 250 pts, Nifty above 24,000; Nifty Consumer durables index gains 2%

The Nifty50 and the Sensex rose, tracking mixed global cues before the US Federal Reserve’s policy decision.

As of 10:34 AM, the Nifty50 was up 75.25 points or 0.31 per cent at 24,064.20, and the Sensex rose 0.38 per cent or 294.47 points to 77,102.95.

Investors around the world exercised caution as they await the outcome of the US Federal Open Market Committee’s rate decision, scheduled to be released later today. The rate-setting panel is expected to hold the federal fund target rate steady at 3.5–3.75 per cent.

Policymakers’ commentary on inflation and the growth trajectory will be closely monitored to gain insight into the world’s largest economy amid the repercussions of the recent geopolitical conflict.

Hindalco Industries, Bajaj Finance, and Reliance Industries were the top losers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap indices were trading 0.35 per cent and 0.44 per cent higher, respectively.

Sector-wise, the Nifty Metal and the Nifty Realty were the top underperformer. The Nifty IT and the Nifty Consumer Durables were the top performers.

IPO Today

Four SME initial public offers are opening for subscription on Wednesday. These are Leapfrog Engineering, Liotech Industries, Diksha Polymers, and Clay Craft.

Out of the four, Diksha Polymers and Clay Craft consist entirely of fresh issues worth ₹17.90 crore and ₹0.54 crore.