The Indian equity benchmark indices opened higher on Wednesday.
The Indian equity benchmark indices opened higher on Wednesday, led by buying across the board amid strong Asian peers as hopes of potential coronavirus vaccine boosted investor risk appetite.
At 9:15 am, the Sensex opened 0.78 percent or 281.70 points higher at 36,314.76, while the Nifty50 index opened at 10,701, up 93.60 points. The market added to gains soon after opening in the green, with the Sensex trading 417.39 points higher at 36,450.45 and the Nifty trading at 10,730.75, up 123.40 points, at 9:41 am.
Gains in index heavyweights such as Reliance Industries, Wipro, Infosys, Bajaj Finance among others lifted Nifty above 10,700.
Broader markets supported gains with Nifty Smallcap100 and Nifty Midcap100 indices up 0.98 percent and 0.89 percent, respectively.
All the sectoral indices traded higher with Nifty IT, Nifty Metal and Nifty PSU Bank gaining the most.
Wipro, Infosys, Tech Mahindra, HCL Technologies and Axis Bank were the top Nifty50 gainers while UPL, Bharti Airtel, Kotak Mahindra Bank, GAIL India and ITC were the top losers.
Wipro surged 10 percent in the early trade after the company reported its Q1FY21 earnings. IT services revenue stood at Rs 14,595.6 crore as against Rs 15,296 crore in the previous quarter. Revenue in dollar terms declined 7.3 percent $1,921.6 million from $2,073.7 million, QoQ. IT services EBIT dropped 6.1 percent to Rs 2,782.2 crore while EBIT margin expanded to 19.1 percent from 17.6 percent, QoQ.