Benchmark indices were trading higher after a flat opening on Wednesday, lifted by OMCs after oil prices inched lower on assurance of “adequate global supply” despite the US announcing no “reissue of waivers” against Iran sanctions.

Early Wednesday, Brent crude futures were at $74.24 per barrel at 6:28 am, down 27 cents, or 0.4 per cent from their last close.

At 10:50 AM, the S&P BSE was up 88 points, or 0.24 per cent, to hover around 38,650 levels, with ONGC, HCL Tech, Bharti Airtel, Asian Paints, and IndusInd Bank among the top gainers. The Nifty50, on the other hand, was trading 29 points, or 0.25 per cent, higher at 11,605.

Among sectoral indices, Auto and Metal indices were under pressure, down 1.23 per cent and 0.63 per cent, respectively.

In the broader market, the S&P BSE MidCap index was trading 10 points, or 0.06 per cent, lower at 15,143, while the S&P BSE SmallCap index was ruling at 14,814, up 29 points, or 0.20 per cent.

shares dipped 5 per cent to Rs 1,578 on the National Stock Exchange (NSE) in the early morning trade on Wednesday after the company reported a lower-than-expected operating performance in the quarter ended March, 2019 or Q1CY19. READ MORE

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent in early trade in Asia. Japan is also due to release its Industry activity index today.

US benchmark index Dow Jones Industrial Average rose 0.52 per cent to 26,647.97.  S&P 500 and Nasdaq Composite added 0.91 per cent and 1.35 per cent each to close at 2,934.31 and 8,123.25 respectively.

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