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Markets open marginally higher; Nifty above 11,300

Yesterday, markets extended the pre-election rally with both indices jumping 1 percent.

Markets open marginally higher; Nifty above 11,300

New Delhi: Markets opened marginally higher on Wednesday on sustained buying by institutional investors though Asian cues are negative.

In early trade the BSE Sensex jumped 91.74 points or 0.24 percent to 37,627.40 while the NSE Nifty edged higher by 18.80 points or 0.17 percent to 11,320.00.

Yesterday, markets extended the pre-election rally on expectations that the ruling BJP-led government will once again come back to power. The BSE Sensex jumped 481.56 points or 1.30 percent to close at 37,535.66 while the NSE Nifty closed 133.15 points or 1.19 percent higher at 11,301.20

Lok Sabha elections will begin on April 11 and continue for over a month till May 19 across seven phases, followed by counting of votes on May 23, the Election Commission announced last Sunday.

Top gainers in the Sensex pack were HCL (2.31 %), IndusInd Bank (1.59 %), HDFC Bank (1.02 %), Axis Bank (0.98 %), HUL (0.95 %), Bajaj-Auto (0.60 %), Reliance (0.59 %), SBI (0.52 %), Bajaj Finance (0.44 %), Sun Pharma (0.40 %), Heromoto Corp  (0.13 %) and HDFC (0.11 )

Asian share markets were mostly in the red on Wednesday. MSCI`s broadest index of Asia-Pacific shares outside Japan eased 0.4 percent. Japan`s Nikkei led the way with a fall of 1.3 percent. Shanghai blue chips slipped 0.4 percent following two days of gains. E-Mini futures for the S&P 500 were off 0.25 percent, a Reuters report .

With Agency Inputs