Sensex gains 100 pts, Nifty50 above 11,300; MCX climbs 4%

NEW DELHI: Domestic equity benchmarks Sensex and Nifty opened higher on Wednesday, tracking positive global cues, shrugging off worries regarding Sino-US trade war.

Asian stocks rose and US Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the US-China trade conflict, seen by some market participants as less severe than expected, Reuters reported.

Media reports that the US was likely to exempt Indian steel and alumimium from the higher tariff regime announced by President Donald Trump's administration this March also influenced the sentiment.


At 9:25 am, the 30-share Sensex was 84 points, or 0.23 per cent, up at 37,375, with 22 stocks in the black.

The NSE counterpart Nifty50 was 24 points, or 0.21 per cent, up at 11,303, with 35 stocks advancing and 15 declining.

ITC, Axis Bank, Sun Pharma, Larsen & Toubro and Infosys were among the top Sensex gainers.

HDFC twins, NTPC, PowerGrid and Wipro were among the top drags on the equity barometer.

Pharma, metal, telecom and capital goods stocks were witnessing decent traction.

The BSE Consumer Durables index fell nearly 1 per cent on losses in VIP Industries, Titan and Voltas.

BSE Midcap and Smallcap indices were outperforming Sensex, trading with a gain of 0.52 per cent and 0.30 per cent, respectively, around that time.