India stock benchmarks open higher on US trade talk optimism

India’s equity benchmarks inched higher at the open on Wednesday, buoyed by optimism after New Delhi described its ongoing trade talks with the U.S. as “positive” and “forward-looking”.

The Nifty 50 added 0.15% to 25,276.6 and the BSE Sensex rose 0.15% to 82,506.4 as of 09:15 a.m. IST.

All 16 major sectors logged gains at the open.

The broader small-caps and mid-caps gained 0.4% and 0.3%, respectively.

A U.S. delegation of trade representatives met Indian officials in New Delhi on Tuesday.

“It was decided to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement,” India’s commerce ministry said in a statement.

Meanwhile, investors are waiting for the Federal Reserve’s policy decision after market hours, with the U.S. central bank expected to cut rates by 25 basis points and signal more reductions in the remainder of the year.