Sensex opens over 200 points up; NTPC in focus

Domestic markets on Wednesday opened in green. At 0917 hours BSE Sensex was trading at 31,556.18, up 167.79 points or 0.53% while NSE Nifty 9,857.65, up 61.60 points or 0.63%.

On 30-share benchmark, among top gainers were Sun Pharma (1.67%), Adani Ports (1.24%), HDFC (1.13%), Reliance Industries (1.06%) and Cipla (1.01%). Among top losers were Power Grid (-0.28%), Tata Consultancy Services (-0.24%), Asian Paint (-0.23%) and NTPC (-0.18%).

Shares of NTPC will be in focus ahead of its on-gaing stock-auctiion. Till yesterday, the offer for sale of NTPC was subscribed by 1.41 times by non-retail investors, on the first day of offer. 

IIFL in its daily market report said, "Nifty finds support around 9750 while 9850 will act as resistance. Bank Nifty also finds support around 23900 while 24250 will act as resistance."

On global markets front, according to Reuters report, the dollar rebounded from a 2-1/2-year low, and Asian stocks took their cue from Wall Street’s higher close, as concerns about North Korea’s firing of a missile over Japan ebbed.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.35%. Japan's Nikkei rose 0.55%.