Sensex, Nifty Edge Higher; Bajaj Finance, ONGC Among Top Gainers
NDTV
All the 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Oil & Gas index's over 1 per cent gain.
The Indian equity benchmarks edged higher on Wednesday, defying the weak cues from other Asian markets. The 30-share Sensex rose as much as 197 points and Nifty 50 index moved above its important psychological level of 17,850. Asian shares dropped on Wednesday, reversing early gains, after an overnight rebound in US and European stocks as investors shrugged off worries about a potential US government debt default, while oil paused near new multi-year highs. The gains in oil are driven by concerns about energy supply, and come two days after the OPEC+ group of producers stuck to its planned output increase rather than raising it further.
As of 9:19 am, the Sensex was up 142 points at 59,887 and Nifty 50 index advanced 47 points to 17,869.
US crude rose to its highest level since 2014 on Wednesday but pared gains and was last off 0.09 per cent to $78.87 a barrel. Brent crude lost 0.08 per cent to $82.49 per barrel, having hit a three-year high in the previous session.
In equity markets, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6 per cent, reversing early gains, while Japan's Nikkei lost 0.78 per cent.
