Equity benchmarks are trading higher, with the Nifty soaring past 10,600, while the Sensex was up by over 247 points. Today’s gain led by Infosys, Reliance Industries, HDFC twins and ITC.
Indices ended the last trading day of Samvat 2074 on a flat note on Tuesday.
At 5:30pm, the BSE Sensex was at 35,259, up 267 points, while the broader Nifty 50 index was at 10,609, up 79 points.
All the sectoral indices are trading higher, with automobiles, metals, banks, energy and consumption stocks gained today.
The market breadth is positive as 551 shares advanced, against a decline of 124 shares, while 38 shares remained unchanged.
Shares of Manappuram Finance soared 4% after board of Directors of the company approved equity infusion up to Rs100cr in its wholly owned subsidiary Manappuram Home Finance.
Meanwhile, oil rebounded to $73 a barrel after falling to its lowest since August, supported by a report that Russia and Saudi Arabia are discussing oil output cuts in 2019.
Wall Street stock futures and Asian stock market held earlier gains on Wednesday after Democrats won control of the US House of Representatives, boosting the party's ability to block President Donald Trump's political and economic agenda.
On Tuesday, the rupee rebounded by 12 paise to end at 73 per US dollar on increased selling of the greenback by exporters and softening crude oil prices.