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Equity benchmarks closed higher for third consecutive
session ahead of outcome of the Federal Reserve's meeting tonight. Investors
largely expect the Fed to hike rates by 25 basis points. Global markets also
gained.
The 30-share BSE Sensex rose 173.93 points to 25494.37 and
the 50-share NSE Nifty climbed 50 points or 0.65 percent to 7750.90. The BSE
Midcap and Smallcap indices underperformed benchmarks, up 0.2-0.4 percent.
The market breadth was marginally in favour of advances in
ratio of 1416:1273 on the Bombay Stock Exchange.
Banking & financials, oil, pharma and select technology
stocks supported market.
Bharti Airtel, ONGC and Cairn India topped buying list on
Sensex, up 4 percent. ICICI Bank, Lupin, GAIL, Power Grid and Idea Cellular
were up 1.5-3 percent while M&M plunged 5.43 percent.
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