Sensex, Nifty, Midcap marginally higher; HDFC, Wipro, Cipla down
Equity benchmarks were marginally higher amid volatility in morning trade. The Sensex rose 56.99 points to 24940.58 and the Nifty advanced 21.95 points to 7625.15, led by auto, telecom, metals and pharma stocks.
The market rebounded on Wednesday after yesterday's sharp sell-off. The 30-share BSE Sensex rose 106.85 points to 24990.44 and the 50-share NSE Nifty climbed 34.85 points to 7638.05.
ICICI Bank, Tata Motors, Lupin, Mahindra & Mahindra, Bharti Airtel, Bajaj Auto, Hero Motocorp, BHEL and Hindalco Industries gained 1-2 percent while Wipro, HDFC, Cipla and NTPC were losers.
The Indian rupee marginally bounced back in early trade after a steep fall in previous session. The currency has opened at 66.42 a dollar, up 4 paise compared to 66.46 a dollar on Tuesday.
Asian markets were mixed with the Shanghai and Hang Seng trading flat with a positive bias. US oil prices bounced back after hitting March 4 lows, up 2.7 percent at USD 36.89 a barrel. Brent rose 1.7 percent to USD 38.52 a barrel.
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