Indian Shares Rise as Oil Slips and RBI Eases Rate Fears
The Nifty 50 and Sensex advanced on Wednesday as Brent crude futures dropped to their lowest levels since February. Gains were led by the banking sector after the Reserve Bank of India allowed loans against foreign currency deposits and Governor Sanjay Malhotra played down immediate rate hike concerns.
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India equity benchmarks rose on Wednesday as falling energy costs and a central bank policy clarification sparked a rally in heavyweight financial stocks. The Nifty 50 climbed 0.83% to 24,021.65, while the Sensex gained 1.04% to reach 76,991.22. Investors are pivoting toward domestic lenders after the central bank eased funding restrictions for non-resident accounts.
