Shares remain volatile; Asian markets advance

The domestic equity barometers continued to trade in volatile manner in mid-morning trade. The Nifty traded below the 17,350 mark. PSU banks advanced for the second consecutive session.

At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 83.08 points or 0.14% to 58,072.38. The Nifty 50 index added 33.15 points or 0.19% to 17,348.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.49% while the S&P BSE Small-Cap index gained 0.42%.

The market breadth favored buyers. On the BSE, 1862 shares rose and 1361 shares fell. A total of 122 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index rose 0.62% to 2,733.20. The index has added 0.79% in two sessions.

Punjab National Bank (up 0.98%), Indian Overseas Bank (up 1.10%), Bank Of Baroda (up 0.80%), Jammu and Kashmir Bank (up 0.72%), Canara Bank (up 0.77%), Union Bank of India (up 0.77%), Bank of India (up 0.63%) and Central Bank of India (up 0.52%) edged higher.

Global Markets:

Asian stocks were trading higher on Wednesday. Investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.

Investors kept an eye on the moves in the oil markets, with media reports suggesting that the European Union is unlikely to impose an immediate oil embargo on Russia over its unprovoked invasion of Ukraine.

U.S. stocks rebounded Tuesday as traders digested Federal Reserve Chair Jerome Powell`s latest rate hike comments. Powell said �inflation is much too high� and vowed to take �necessary steps� to curb inflation.

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