NEW DELHI: Markets on Wednesday opened higher with the benchmark BSE Sensex reclaiming the 34,000-mark. Sensex surged 356 points or 1.05 per cent at 34,204, while the broader NSE Nifty rose 116 points or 1.14 per cent at 10,262.
Soon after opening over 350 points higher, both the indices gave up some of its gains with the BSE index up over 282 points at 34,129, while Nifty traded above 10,200-mark.
At 3:12 pm: Sensex zooms 223 points to reclaim 34,000-mark; Nifty above 10,200
At 2:01 pm: Markets gave up all morning gains, Sensex down 49 points at 33,799; Nifty below 10,150
At 10:39 am: In a volatile trade, Sensex was 107 points up at 33,954 and Nifty stood above 1,150
On the BSE platform, ICICI Bank, Asian Paints, Tata Motors, Mahindra and Mahindra and Adani Ports were among major gainers, rising as much as 2.44 per cent. On NSE, sub-indices Nifty Realty, PSU Bank and Financial Service surged the most, gaining as much as 1.99 per cent.
Investor sentiments got a boost after the rupee strengthened to a three-week high on Wednesday morning, aided by a sharp fall in global crude oil prices overnight.
The Indian currency rupee was trading at 73.23 per dollar at 9:10 am, compared with its previous close of 73.57, its highest since October 3.
Both Sensex and Nifty fell for the fourth session in a row on Tuesday to hit their over six-month low levels.
The BSE index had ended 287 points lower at 33,847 — the weakest closing since April 10, when the 30-share gauge had settled at 33,880. Similarly, the NSE Nifty dropped 98 points to end at 10,147 — its lowest closing since April 4.
Asian stocks edged lower on Wednesday as concerns, ranging from worries about US corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.