India shares gain on banking boost, track global peers

Wednesday,   23-Nov-2022   10:20 AM (IST)

Indian stocks opened slightly higher on Wednesday, led by gains in banking stocks, and tracking global peers, while investors remained cautious ahead of the U.S. Federal Reserve's November policy meeting minutes. The benchmark S&P BSE Sensex edged up 0.15% to 61,514.48, while the NSE Nifty 50 index gained 0.16% to 18,3273.70, as of 0433 GMT. Among sectoral indexes, Nifty pubic sector bank index rose nearly 1%, continuing its upward trend on the back of improved asset quality of state-run lenders. India's top lender State Bank of India was among the top gainers in Nifty 50 index, rising 1%. Cipla and HDFC Life also rose by similar magnitude. Overnight, Wall Street's three main indexes rose, aided by gains in technology, energy and healthcare stocks. The MSCI Asia ex Japan index was up 0.39% on Wednesday. Fed's minutes are due at 1900 GMT and will be vetted by investors for clues on the pace of interest rate hikes.