Indian equity benchmarks NSE Nifty 50 and BSE Sensex ended higher on Wednesday, but off day's highs. Nifty Midcap 100 and Nifty Smallcap 100 ended 0.9 and 0.8 percent higher, respectively. The Sensex rose 506.06 points or 0.8 percent to 60,792.1, before ending at 60,663.8.

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NSE

The Nifty50 moved within a range of 17,744.15 - 17,898.7 in intraday trade before ending 0.8 percent higher at 17,862.9. Nifty Bank ended flat at 41,502.4.

A total of 38 stocks in the Nifty50 basket finished in the green, with Adani Enterprises, Adani Ports, HDFC Life, SBI Life and Bajaj Finance being the top gainers.

On the other hand, LT, Eicher Motors, Bharti Airtel, Hero MotoCorp and Axis Bank were the top Nifty 50 losers.

"Bulls took charge of the markets as the RBI’s MPC meeting delivered a smaller rate hike in line with market expectations. RBI has taken a more optimistic view on domestic growth by increasing the GDP forecast while cautiously keeping CPI inflation at 5.3 percent for FY24. Meanwhile, global markets traded with hopes as investors digested Powell’s speech, which stated that disinflation had begun but pointed towards the possibility of further rate hikes in response to a stronger job market," said Vinod Nair, Head of Research at Geojit Financial Services.

Rupee ended 21 paise higher at 82.49 against the US dollar.

Global markets

European markets traded higher on Wednesday following Fed Chair Jerome Powell's comments. FTSE hit record high, and Stoxx 600 index was last trading 0.8 percent higher at 461.9.

S&P 500 futures were trading 0.3 percent lower, suggesting a negative start on Wall Street. Wall Street ended lower on Tuesday.

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