Indian shares ended a volatile session modestly higher on Wednesday, as a stronger rupee amid withholding tax talk offset negative European cues ahead of Bank of England and European central bank policy meetings tomorrow and the U.S. jobs report set to be released Friday.
The rupee hit a high of 54.18 against the dollar, its highest since May 17, after Bloomberg-UTV reported the government may remove the withholding tax on bonds for foreign investors, without citing sources.
The benchmark 30-share Sensex ended the session up 37 points or 0.21 percent at 17,463, with 20 of its components advancing. The broader Nifty index rose by 15 points or 0.28 percent to 5,303, while the BSE mid-cap and small-cap indexes rose about 0.9 percent each.
Maruti Suzuki led the gainers in the Sensex pack, rising 1.5 percent, while Gail, BHEL, Bharti Airtel, Cipla, HDFC, NTPC, SBI and HDFC Bank rose between 0.5 percent and 1 percent.
On the global front, most Asian stocks edged higher on speculation of more stimulus measures from the Chinese and European central banks, while European stocks snapped a three-day winning streak.
by RTT Staff Writer
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