India’s BSE Sensex closed about 0.5% up at 74,336.45 on Wednesday, recovering from a two-day slide, amid some relief from easing oil prices despite elevated geopolitical uncertainty. Investors also awaited the Fed’s decision, with the expected 25 bps rate hike weighing on Indian assets. Gains were led by banks and payment firms after the government announced the introduction of the first-ever Merchant Discount Rate (MDR) on certain UPI transactions. State-owned SBI (2.2%), Axis Bank (1.9%), Kotak Mahindra Bank (1.3%), HDFC Bank (0.8%) and ICICI Bank (0.5%) all advanced. FMCG stocks and other heavyweight stocks also performed well.