Sensex rises 77 points, Nifty at 11,500

New Delhi: Markets pared opening losses on Wednesday with the Nifty regaining 11,500 in early trade.

The BSE Sensex rose 77.41 points or 0.20 percent to 38,978.21 while the NSE Nifty edged up by 30.25 points or 0.26 percent to 11,500.50

Major gainers in the Sensex pack were Ultrachem, Tech Mahindra, Tata Steel, ONGC, M&M, ITC, RIL, Infosys, HCL Tech, HUL, Maruti and TCS, rising upto 2.90 percent. On the other hand, major losers were SBI, HDFC, Titan, Axis Bank, Bajaj Auto, Kotak Bank, ICICI Bank, Asian Paint, NTPC, Bajaj Finance, IndusInd Bank and Nestle, falling upto 1.65 percent

Asian shares inched up on Wednesday. MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.25% while Japan`s Nikkei advanced 0.35%.

Mainland Chinese shares slipped a tad, with bellwether CSI300 index giving up 0.3% on investor caution after having hit a five-year high earlier this week. On Wall Street, both the S&P 500 and Nasdaq boasted record closing highs, with gains of 0.75% and 1.39% respectively, a Reuters report said.

In the previous session on Tuesday, the BSE Sensex finished 272.51 points or 0.71 percent higher at 38,900.80. NSE Nifty advanced 82.75 points or 0.73 percent to settle at 11,470.25.