Sensex jumps over 400 points, Nifty gains 10,200

Sensex and Nifty gaining over 1% as crude prices plunged in the last 2 sessions.

New Delhi: Market opened in the positive note on Wednesday with both Sensex and Nifty gaining over 1% as Oil marketing companies shone on the back of easing crude oil prices.

The benchmark BSE Sensex was trading sharply higher by 444.39 points or 1.31 percent at 34,291.62 points in opening trade while the NSE Nifty jumped 133 points or 1.31 percent to 10,280.

In the Sensex pack, prominent gainers were Tata Motors, ICICI Bank, Asian Paints, Bharti Airtel, Adani Ports, M&M, SBI, HDFC Ltd, IndusInd Bank, Vedanta Ltd, L&T, RIL, Axis Bank, ONGC, HUL, Tata Steel, Maruti Suzuki, Yes Bank, Hero MotoCorp and HDFC Bank, rising up to 1.96 percent.

Meanwhile, DIIs made purchases worth a net of Rs 116.41 crore, while Foreign institutional investors (FIis) sold shares to the tune of Rs 340.35 crore Tuesday, provisional data showed.

The rupee recovered by 42 paise to 73.15 against the US currency in early trade Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domestic equity markets.

Asian stocks however edged lower on Wednesday. MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, extending the decline of more than 2 percent in the previous session. Hong Kong`s Hang Seng fell 0.3 percent while the Shanghai Composite Index retreated 0.6 percent. South Korea`s KOSPI slipped 0.25 percent and Japan`s Nikkei lost 0.35 percent, handing back earlier gains, a Reuters report said.

With Agency Inputs