Mumbai, July 29: Indian equity markets opened sharply higher on Wednesday, with the benchmark indices gaining nearly 1 per cent each as investors awaited the US Federal Reserve’s policy decision.

Sensex opened at 77,423.77, up 657.85 points or 0.86 per cent, while the Nifty started at 24,176.65, rising 191.30 points or 0.80 per cent.

Sector-wise, most indices traded in the green in early deals, led by Nifty IT which jumped over 2 per cent.

Meanwhile, Nifty MidSmall IT & Telecom gained 1 per cent, followed by Nifty Chemicals (0.99 per cent) and Nifty FMCG (0.81 per cent).

On the downside, Nifty Realty fell 0.39 per cent, while Nifty Oil & Gas slipped 0.15 per cent.

Analysts said global markets remained mixed ahead of the Fed’s policy decision and key corporate earnings, while higher Brent crude prices amid renewed geopolitical tensions could keep commodity prices volatile.

They said the market’s current range-bound trend is likely to break on the upside, supported by fairly valued Nifty stocks, though sustained FII buying would depend on greater clarity over crude oil prices and the progress of the monsoon.

The Fed is widely expected to keep rates unchanged, a move that is already priced into Indian markets and is therefore unlikely to trigger a significant reaction, analysts added.

Additionally, Brent crude rose 4.85 per cent to $88.17 per barrel, while US WTI crude gained 5 per cent to $83.30 per barrel.

Asian markets traded mixed, with Japan’s Nikkei down 2 per cent, Hong Kong’s Hang Seng up over 1 per cent and South Korea’s KOSPI falling nearly 9 per cent.

Wall Street ended mixed overnight, with S&P 500 gaining 0.21 per cent while the Nasdaq slipped 0.22 per cent.

New Delhi, July 28: In a significant step towards strengthening railway infrastructure and enhancing network capacity, Indian Railways has sanctioned the upgradation of the electric traction system on the Parbhani-Mudkhed double line section in Nanded division of South Central Railway, according to a statement issued by the Ministry of Railways on Tuesday.

The project, which also includes associated power supply installation works, has been sanctioned at a cost of Rs 163 crore, converting the existing 1×25 kV electric traction system to a more advanced 2×25 kV system over a stretch of 164 track kilometres, supported by upgraded power supply infrastructure to meet the enhanced electrical load, the statement said.

The Parbhani-Mudkhed section forms part of the strategically important Highly Utilised Network (HUN) Route-9, connecting Ajmer-Indore-Khandwa-Akola-Purna-Mudkhed-Secunderabad-Mahbubnagar-Dhone.

The upgraded traction system will strengthen power supply for train operations, enabling the section to handle higher freight volumes and support the running of Vande Bharat Express trains. It will also contribute to Indian Railways’ goal of achieving 3,000 million tonnes of freight loading by 2029-30, the statement said.

The project is part of the continuing efforts of Indian Railways to modernise electrical infrastructure and improve operational efficiency on high-density corridors across the country.

The country has emerged as the global leader with the largest electrified railway network in the world. With 99.6 per cent electrification of the country’s broad gauge track network, India is second only to Switzerland which has 100 per cent railway electrification, but the network is much smaller, Railways Minister Ashwini Vaishnaw informed the Lok Sabha earlier this month.

India’s railway network electrification is ahead of China (82 per cent), Spain 67 (per cent), Japan (64 per cent), France (60 per cent) the United Kingdom (39 per cent).

Indian Railways has undertaken one of the fastest railway electrification programmes in the world.

Electrification of the track network on Indian Railways has been taken up in mission mode with a massive 48,072 route km being electrified between 2014-2026. This represents a sharp acceleration compared to the 21,801 route km that was electrified in the 60 years before this period, the minister stated.

New Delhi, July 28: Indian companies score above global peers on AI readiness but only 19 per cent have started changing office space and operations to reflect that, with a 58‑point gap between recognition and execution, a report said.

The report from JLL said 77 per cent of Indian business leaders recognise AI will need changes implemented in the workspace.

“AI will add jobs, not cut them, according to India’s business leaders, but a shortage of skills, not money, is now the biggest hurdle to change,” the report said.

Nearly 58 per cent respondents expect workforce growth over the next three to five years and 62 per cent said AI will make human roles more valuable rather than replace them.

The survey of over 2,200 CEOs, CFOs and real estate heads across 21 countries found “Indian companies are ahead of the rest of the world in putting AI to use in how they plan and run their offices”.

India scored higher than the global average on all eight AI-related measures tracked.

“For the first time in 15 years of tracking this data, 46 per cent of Indian companies cite skills shortage as their primary barrier versus only 35 per cent citing budget, capability now outweighs cost,” said Ajit Kumar – Managing Director, Work Dynamics Accounts, West Asia, JLL.

Kumar mentioned the skills gap as a positive inflection point, because skills can be developed internally and sourced externally far more readily than waiting for capital allocation cycles.

“The companies that reframe this as a skills development challenge rather than a budget constraint—and invest in the 50 per cent who are prioritizing AI support and infrastructure—will define India’s workplace transformation over the next decade,” he added.

Nearly 56 per cent of India firms track AI trends against 46 per cent globally and 45 per cent Indian companies run staff training and change programmes against the global average of 36 per cent.

“Nearly one in five Indian companies (19 per cent) say they have reached the most advanced stage of using AI in their real estate operations, against 15 per cent globally. Counting those still scaling up, 47 per cent are actively rolling out AI, against 42 per cent worldwide,” the report said.