Indian shares opened higher on Wednesday, tracking a rise in global peers as concerns over banking eased further after the Credit Suisse rescue, while investors await the U.S. Federal Reserve rate decision later in the day.
Twelve of the 13 major sectoral indexes advanced with information technology stocksThe rise follows an uptick in global equities as concerns over a banking crisis further eased after U.S. Treasury Secretary Janet Yellento protect depositors in smaller banks following the failures of Silicon Valley Bank and Signature Bank.
The Swiss government-backed takeover of Credit Suisse by UBS over the weekend eased concerns over financial stability, for the time being. Global markets now await the Fed decision, which comes amid contagion risks in banking. The odds of a 25-basis-points hike are 84.9%.jumped 14% after crossing the annual booking value guidance of 11 bln rupees for 2022-23.Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil
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