The markets on Wednesday morning were trading higher with Sensex at 63,420.15, up by 93.05 points and Nifty was at 18,849.40 with a gain of 39.20 points. Power Grid, UltraTech Cement, Wipro, Tech Mahindra and HDFC Bank were the top gainers in the morning session, whereas Sun Pharma, NTPC, Axis Bank, Infosys and Asian Paints were among the losers.
Markets on Tuesday
Sensex jumped 267.15 Points to the end of the day at 63,435.45 while Nifty closed at 18,831.60, up by 76.15 points despite weak global cues after China cut interest rates by less than expected.
US markets after a long weekend closed in negative on Tuesday with oil super-major Exxon Mobil Corp pulling down the S&P and the Dow. The Dow Jones Industrial Average dropped 245.25 points to 34,053.87, the S&P 500 fell 20.88 points to 4,388.71 and the Nasdaq Composite lost 22.28 points to 13,667.29.
The Asian stock markets taking cue from Wall Street, were trading lower on Wednesday. Singapore's SGX Nifty was down by 18.50 points at 18,862.50, Hong Kong's Hang Seng was at 19,344.02 with a drop of 263.06 points, South Korea's KOSPI was at 2,594.50 with a loss of 10.41 points. However, Japan's Nikkei 225 saw a jump of 29.47 points at 33,418.38.
Oil prices on Wednesday morning were trading lower for the third consecutive session amidst fears that monetary stimulus may not be enough to revive China's growth. Brent crude futures were down 21 cents at $75.69 per barrel and US West Texas Intermediate crude remained unchanged at $71.06 per barrel with a fall of 14 cents.
Indian rupee opened flat on Wednesday at 82.12 per dollar against Tuesday's close of 82.11.