The Indian market closed higher on Wednesday, marking its fourth consecutive session of gains, driven by a rally in banking stocks amid rising optimism that the Reserve Bank of India (RBI) may announce a cash reserve ratio (CRR) cut later this week.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,520 level, a discount of nearly 40 points from the Nifty futures’ previous close.

Indian benchmark equity indices, Sensex and Nifty50, opened marginally higher on Wednesday for the fourth straight session, driven by gains in heavyweight stocks like HDFC Bank, ITC, and L&T, ahead of the interest rate decision by the Reserve Bank of India later this week.

BSE Sensex continued its upward trend for the fourth consecutive day, gaining 110 points on Wednesday, supported by positive movements in HDFC Bank and ICICI Bank shares, along with sustained foreign investment.

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The PSU bank index was the brightest spark with gains of 2 percent, extending rally from Tuesday during which the index rallied 2.5 percent.

The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 24,540 level, a discount of nearly 7 points from the Nifty futures’ previous close.