The Indian equity benchmarks edged higher on Wednesday mirroring gains in other international markets after a gauge of global equity markets rebounded in a late-session rally on Tuesday after US Federal Reserve Chair Jerome Powell calmed fears of rising interest rates that have roiled bonds and helped spur assets linked to expectations of a strong recovery. The Sensex rose as much as 214 points and Nifty 50 index moved above its important psychological level of 14,750.
As of 9:25 am, the Sensex was up 88 points at 49,839 and Nifty advanced 43 points to 14,751.
Reliance Industries, HDFC Bank, Axis Bank, Bajaj Finance, State Bank of India, Larsen & Toubro and ICICI Bank were among the top movers in the Sensex. While, TCS, Infosys, Hindustan Unilever and Power Grid were top drags.