Indian shares edged up on Wednesday, boosted by energy and financial sectors, while stocks globally were on the edge as traders weighed volatile oil prices after the United States and other nations moved to cool prices.
The blue-chip NSE Nifty 50 index rose 0.14% to 17,527.25 by 9:21 am, while the benchmark S&P BSE Sensex rose 0.07% to 58,717.65.
The Nifty Energy Index rose 0.85%. State-run Oil and Natural Gas Corporation and Tata Power were among the top gainers, rising 3.82% and 3.1%, respectively.
In tandem with releases by other major countries, India said on Tuesday it will sell 5 million barrels, equivalent to one day of its oil demand, to Mangalore Refinery and Petrochemicals Ltd and Hindustan Petroleum Corp.
Meanwhile, Asian shares were jittery as trading was buffeted by a step-up in U.S. Treasury yields and volatile oil prices, with investors looking ahead to minutes of the U.S. Federal Reserve’s November meeting later in the day.