The Indian benchmark indices continued trading higher through midday after opening with slim gains on Wednesday. RBI Governor Shaktikanta Das announced the Monetary Policy Committee's decision on hiking the repo rate by 25 basis points to 6.50%.
Shares of Adani Enterprises climbed as investors reassessed the impact of the scathing report from Hindenburg Research published two weeks ago.
As of 12:07 p.m., the S&P BSE Sensex was up 398 points, or 0.66%, at 60,684.10, while the NSE Nifty 50 was 140 points, or 0.79%, higher at 17,861.75.
Adani Enterprises Ltd., Adani Ports and SEZ Ltd., HDFC Life Insurance Co., SBI Life Insurance Co., and Infosys Ltd. were the top gainers in the gauge.
Whereas, Hero MotoCorp Ltd., Eicher Motors Ltd., Bharti Airtel Ltd., Tata Consumer Products Ltd., and Larsen & Toubro Ltd. were the top losers amongst the NSE Nifty 50 constituents.
The broader market indices were trading higher; S&P BSE MidCap was up 0.59%, whereas S&P BSE SmallCap was higher by 0.44%.
Fourteen out of the 19 sectors compiled by BSE advanced, while only five declined in trade.
The market breadth was skewed in favour of the bulls. About 1,867 stocks rose, 1,434 declined, and 168 remained unchanged on the BSE.
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