The 30-share BSE Sensex closed 46.64 points higher at 35,739.16, on Wednesday, while the broader Nifty50 ended 13.85 points up at 10,856.70 led by gains in IT majors Tata Consultancy Services Ltd and Infosys Ltd.
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However, gains were limited as investors were cautious ahead of the US Federal Reserve policy decision later in the day for clues on future rate hikes.
Moreover, India’s retail inflation in May rose to a four-month high of 4.87%, marginally higher than RBI’s revised inflation projection, raising prospects of more rate hikes in the year.
The Indian rupee on Wednesday weakened against the US dollar after retail inflation rose to a four-month high. Traders will also keep an eye on the US Federal Reserve policy decision later in the day.