The benchmark BSE Sensex gained 29 points in morning trade on persistent buying, mainly in oil & gas, banking, auto, consumer durables and capital goods stocks amid sustained foreign capital inflows and firm Asian cues.
Foreign Institutional Investors (FIIs) bought shares worth Rs. 864.35 crore on Wednesday, as per provisional data from the stock exchanges.
The Sensex resumed lower at 21,736.61 on initial selling, but recovered immediately to a high of 21,913.04 before trading at 21,885.54 at 1015 hrs, showing a gain of 29.32 points, or 0.13 per cent, from its last close.
The NSE Nifty also moved up by 13.60 points, or 0.21 per cent, to 6,530.50 at 1015 hrs.
Major gainers were RIL (2.28 per cent), SBI (2.22 per cent), Tata Power (2.04 per cent), ONGC (1.72 per cent), Dr Reddy’s Lab (1.62 per cent), HDFC Bank (1.62 per cent), ICICI Bank (1.60 per cent).
Key benchmark indices in China, Indonesia, South Korea, Hong Kong, Taiwan, and Japan were up 0.47-1.26 per cent while Singapore’s Straits Times fell 0.21 per cent.
Meanwhile, U.S. stocks were mostly higher on Wednesday amid signs of progress in diplomatic attempts to ease tensions in Ukraine and as investors shrugged off concern over weakness in the Chinese economy.
