The BSE Sensex opened more than 80 points higher on Wednesday while the NSE benchmark has been moving around 5300 level since the start of this week. Benchmarks have been looking for a fresh trigger (which could be like fresh reforms from new finance minister or ECB meet scheduled for July 5) to extend gains.
The BSE benchmark was up 57.65 points to 17,483.36 and the NSE benchmark gained 18.65 points at 5,306.60.
State Bank of India, Tata Motors, HDFC, L&T, Tata Steel, Cipla, PNB, ICICI Bank, Sesa Goa, JSPL, Hindalco, Maruti, Hero Motocorp, BHEL and ITC were on buyers' radar.
WTI crude shot up 4% yesterday that resulted a rise of 1% in Cairn India and a fall of nearly 1% in BPCL.
However, HUL and ONGC were down over 0.5%.
The CNX Midcap Index was up 38 points at 7,505. The market breadth was strong; about four shares advanced for every share declining on the National Stock Exchange.
In the second line shares, Ashok Leyland shot up over 3% post sales numbers for June.
Gujarat Pipavav was up 2.5% as the company launched qualified institutional placement (QIP) issue. It is planning to raise USD 36.39 million.
HOEC rose 0.7%. Brigade Enterprises, GVK Power and Lanco Infratech were up 1% while NCC was down 1%.
Eveready surged 4.5%. 3i Infotech was up nearly 2% as ICICI Bank acquired 8.9 crore shares (20.51%) of the company via conversion of preference shares and loan conversion to CDR scheme.
Jet Airways shot up 2%. Idea Cellular gained 1%, even after no conclusion at cabinet meet.
Essar Oil declined 0.6% as Gujarat HC has rejected company's plea for relief in repayment of over Rs 8,000 crore due as sales tax.
Berger Paints rose 2.5% as The Hindu Business Line reported that it is looking for acquisitions both in India and abroad.
Indiabulls Securities and Usha Martin surged 4% each.
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