Markets edge up, on the back of global cues

During the Wednesday afternoon session, Indian shares are trading marginally higher tracking global uptrends. The concerns surrounding the banking sector have eased after the successful Credit Suisse rescue, and investors are currently anticipating the rate decision of the U.S. Federal Reserve, which is scheduled for today.

As the banking sector faces the risk of contagion, global markets are currently anticipating the decision of the U.S. Federal Reserve. The odds of a 25-basis-point hike currently stand at 84.9%.

On the sectoral front, all major indices are trading with marginal gains, lifting up the chart. However, FMCG and Metal packs remained volatile.

At around 2.00 PM, BSE Sensex is seen at 58,179, up by 104 points. NSE Nifty is trading 0.16% higher at 17,135 points.

HDFC Life (+2.90%) is the top NSE gainer, up by 3%. Bajaj Finserv (+2.37%), Bajaj Finance (+2.21%), and SBI Life (1.85%) are trading 2% higher. Sun Pharma (1.05%) is trading higher by 1%.

BPCL (-1.69%) is the top laggard on the nifty index today. Coal India (-1.52%), NTPC (-1.30%), Apollo Hospitals (-1.03%), and Adani Ports (-0.92%) are putting pressure on the chart.

A total of 26 stocks advanced and 23 declined on the nifty index today.

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