Indian stock markets advanced Wednesday

Indian stock markets advanced Wednesday ahead of the outcome of the crucial vote on the government's decision to allow foreign direct investment in multi-brand retail.

A man walks past the Bombay Stock Exchange (BSE) building in Mumbai September 21, 2010.

The 30-share BSE Sensex gained 0.38 percent or 77.50 points to 19,425.62 and the 50-share NSE Nifty rose 0.31 percent or 18.00 points to 5,907.35, the highest level in more than 19 months.
Markets opened on a positive note, tracking firm Asian cues after data showed that China's service activity expanded in November but at a slower pace compared to that in the previous month. The HSBC Services Purchasing Managers’ Index (PMI), a measure of the nationwide service activity, rose to 52.1 in November compared to 53.5 in October.
However, the upward move was limited as investors opted for caution ahead of the crucial vote in the parliament on whether to allow 51 percent foreign investment in the retail sector. While the ruling Congress party favours the move, some of its coalition partners in the central government have already voiced their disagreement.