Equity benchmark indices opened higher in Wednesday’s morning trade taking cues from Asian markets. Investors await a number of events lined up for the week, including the FOMC meeting, US-China trade talks, Thursday's F&O expiry, and the all-important interim budget.
The Sensex rose 166 points to 35,760, while the Nifty gained 40 points to 10,692. Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, and ICICI Bank are among major gainers on the Nifty50, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, and Dr Reddy's Lab.
Shares of DHFL were trading 5% lower after Cobrapost on Tuesday alleged that the firm had siphoned off Rs31,000cr into promoter companies to create private wealth through a network of shell companies.
HCL Tech stock up 3.5% as it reported a good set of numbers for Q3FY19. The company’s PAT increased by 2.8% qoq to Rs2,611cr against median consensus estimates of Rs2,553cr.
In the broader market, BSE MidCap index was trading flat at 14,486 levels, while BSE SmallCap index was 0.26% lower at 13,734.
The rupee on Wednesday opened lower at 71.38/$ vs. its previous close of 71.11 against the US dollar.
Asian stocks are trading mixed, the British pound nursed losses on Brexit uncertainty, while oil prices held stable. The Australian dollar jumped after inflation figures eased concerns about the economy.