Indian Markets: Sensex, Nifty Rise High After Tepid Start On Wednesday

Indian markets started on a tepid note before making big gains in morning trade on Wednesday. BSE Sensex and NSE Nifty opened flat before going down in the early trade. At 9.30 am, the BSE Sensex was trading 50 points lower at 38,914 while the NSE Nifty was trading 17 points lower to 11,570. However, both Sensex and Nifty turned to tide to rise high in the pre-noon trade.

At 11 AM, Sensex was 153 points up at 39,116 points while Nifty was trading at 11625 up 37 points.

In the previous session on Tuesday, the 30-share BSE Sensex closed 334 points lower at 38,963. The broader NSE Nifty too tumbled 73 points to settle at 11,588. The rupee, meanwhile, depreciated 4 paise against the US dollar to trade at 70.98 in early session.

According to traders, domestic investors were cautious tracking global stocks that fell after British Prime Minister Boris Johnson on Tuesday "paused" his Brexit Bill for leaving the European Union (EU) by the October 31 deadline after MPs vote for it 329 to 299, but then voted against a crucial attached motion that would have seen it through by the end of the week.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red. On Wall Street, stock exchanges finished on a negative note on Tuesday.

Brent futures, the global oil benchmark, slipped 0.29 per cent to USD 59.42 per barrel.