At 09:26 IST, the barometer index, the S&P BSE Sensex, was up 269.37 points or 0.43% to 62,802.67. The Nifty 50 index added 72.70 points or 0.39% to 18,680.70.
In the broader market, the S&P BSE Mid-Cap index rose 0.38% while the S&P BSE Small-Cap index gained 0.53%.
The market breadth was strong. On the BSE, 1,765 shares rose and 611 shares fell. A total of 112 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 619.92 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 36.75 crore in the Indian equity market on 13 December, provisional data showed.
Stocks in Spotlight:
UltraTech Cement rose 0.68%. The company announced the commissioning of 1.9 mtpa greenfield clinker backed grinding capacity at Pali Cement Works, Rajasthan. The company along with its subsidiary now has 16.25 mtpa cement capacity in Rajasthan spread over 5 separate plant locations. The company's total cement manufacturing capacity in India now stands at 121.35 mtpa.
Adani Transmission declined 0.17%. The company has incorporated its WOS in the name of Adani Cooling Solutions Limited (ACSL) for the purpose of carrying on District Cooling System business. ACSL will commence its business operations in due course.
TVS Motor Company rose 0.42%. The company plans to launch the Euro-5 two-wheelers in Turkey. TVS Motor will further strengthen its presence in Turkey with products like TVS Jupiter, TVS NTORQ Race Edition, TVS Raider and TVS Apache RTR 200 4V which will be Euro5 compliant
Global markets:
Asian stocks are trading higher on Wednesday, after stocks on Wall Street saw a second day of gains on an inflation print that came in cooler than expected.
Sentiment at Japan's large manufacturers worsened in the fourth quarter, according to the Bank of Japan's quarterly tankan business sentiment survey. The headline index for large manufacturers' sentiment came in at 7, a decline from the previous quarter's reading of 8. The index for small manufacturing slightly improved to -2 in the fourth quarter from -4 in the previous quarter.
US stocks rose for a second day on Tuesday, fueled by a cooler-than-anticipated inflation report.
Prices rose less than expected in November. The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department reported Tuesday.
On Wednesday, the central bank will conclude its December meeting and deliver its latest rate hike. As per reports, a 50 basis point hike is expected, a smaller bump after four consecutive 75 basis point hikes. Chair Jerome Powell will also speak Wednesday, giving further clues about what's coming from the Fed in 2023.
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