Stock Market: Sensex Climbs 150 Points, Nifty Trades Above 16,650 On Global Cues. All Sectors In The Green

Stock update: On the 30-share Sensex platform, Nestle, PowerGrid, L&T, Axis Bank, Wipro, Infosys, HUL, TCS were among the lead gainers

The two key equity benchmarks, Sensex and Nifty, on Wednesday opened higher in early trade tracking mixed global sentiment. At 9.45 am, the S&P BSE Sensex jumped 152 points to 62,945. On the other hand, the NSE Nifty50 was trading 18,658, up 60 points. The Reserve Bank's rate-setting monetary policy panel began deliberations on Tuesday and the decision would be announced on June 8.

On the 30-share Sensex platform, Nestle, PowerGrid, L&T, Axis Bank, Wipro, Infosys, HUL, TCS were among the lead gainers. On the flipside, HCL, Bajaj Finance, M&M, Kotak Bank, Tata Motors, M&M, Titan emerged losers. Among individual stocks, shares of Torrent Power soared over 7 per cent after the company signed an MoU with the Government of Maharashtra to develop three pumped storage hydro projects of 5,700 MW capacity.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices climbed up to 0.5 per cent.

All the sectoral indices are trading in the green, with Nifty IT, Nifty Realty, and Nifty Consumer Durables indices gaining up to 0.4 per cent.

In the previous session on Tuesday, the S&P BSE Sensex ended 5 points higher at 62,793. On the other hand, the Nifty50 saw gains of 5 points at 18,599.

In Asian markets, Seoul, Shanghai, and Hong Kong were trading in the green, while Tokyo quoted lower. The US markets ended in the positive territory on Tuesday.

Global oil benchmark Brent crude dipped 0.42 per cent to $75.97 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 385.71 crore on Tuesday, according to exchange data.

Meanwhile, the rupee gained 8 paise to 82.52 against the US dollar in early trade on Wednesday amid a positive trend in domestic equities. The domestic currency is trading in a narrow range as market participants are vigilant ahead of RBI's monetary policy outcome on Thursday. RBI is largely expected to leave the repo rate unchanged at 6.5 per cent.

At the interbank foreign exchange, the rupee opened at 82.56 against the dollar, then rose to 82.52, registering a gain of 8 paise over its previous close. On Tuesday, the rupee closed at 82.60 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 to 104.10.