Sensex, Nifty opens in green; Reliance Industries in focus

Domestic markets on Wednesday opened in green on the back of positive global cues. At 0916 BSE Sensex was trading at 31,515.70, up 66.67 points or 0.21%, NSE Nifty was trading at 9,825.85, up 28.75 points or 0.29%.

On 30-share benchmark, among top gainers were Adani Ports (1.44%), HDFC (1.30%), Tata Consultancy Services (1.23%), Hindustan Unilever (1.05%) and Hero MotoCorp (0.94%). Among top losers were Larsen & Toubro (-1.34%), Asian Paint (-0.78%), Oil & Gas Natural Gas (-0.74%), ICICI Bank (-0.62%) and Kotak Mahindra Bank (-0.48%). 

Motilal Oswal in its daily market outlook report said, "Nifty index opened positive and negated its formation of lower highs – lower lows of last four trading sessions. It witnessed a bounce back move after the sharp decline of the last week and closed the session near to 9800 zone with the intraday gains of 83 points."

Shares of Reliance Industries, Coal India and GVK Power will be in focus. 

On global front, according to Reuters report, the dollar hoarded hefty gains after strong U.S. retail data put a Federal Reserve rate hike back on the agenda, while Asia stocks inched ahead as tensions in the Korean peninsula simmered down a little.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% while Japan's Nikkei dithered either side of flat.