The Indian equity benchmarks moved higher on Wednesday paced by gains in IndusInd Bank, ICICI Bank, Bajaj Finance, State Bank of India, Axis Bank, Bharti Airtel and Bajaj Auto. The Sensex rose as much as 297 points to hit an intraday high of 49,241.50 and Nifty 50 index moved above its important psychological level of 14,700.
As of 9:22 am, the Sensex was up 276 points or 0.56 per cent at 49,220 and Nifty 50 index advanced 83 points or 0.57 per cent to 14,736.
Meanwhile, MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.23 per cent. Australian stocks rose 0.55 per cent, but shares in China slipped 0.44 per cent. Stocks in Tokyo edged 0.16 per cent higher.
Overnight, shares eased from record peaks on Tuesday as optimism about a global economic recovery was dented by caution before a policy decision by the Federal Reserve and earnings updates from a number of blue-chip companies.