Indian stocks rebound from 3-day losses; Sensex up nearly 300 pts

Snapping three straight sessions of losses, Indian stocks traded in the green on Wednesday morning, largely due to value buying by investors. At 9.44 am, Sensex traded at 57,428.45 points, up 281.13 points or 0.49 per cent, whereas Nifty traded at 17,063.80 points, up 80.25 points or 0.47 per cent. Among the Nifty 50 stocks, 41 declined and the rest 9 advanced this morning, National Stock Exchange data showed. The International Monetary Fund (IMF) on Tuesday lowered India's GDP growth forecast for the current year by 60 basis points to 6.8 per cent. The IMF's latest projection on India's GDP growth is lower than the 7 per cent growth pegged by the Reserve Bank of India (RBI) for the financial year 2022-23.