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Sensex, Nifty trade higher; NTPC, Sun Pharma stocks lead

Equity benchmark indices were trading flat on Wednesday tracking subdued global markets. The Sensex was up 69 points at 39,504, with the Nifty gaining 15 points to trade at 11,811 levels.

On the sectoral front, realty, IT and FMCG indices were weak, while banking, auto, pharma, metal, and media shares were in the green.

NTPC, Power Grid, Sun Pharma and Coal India are among major gainers on the indices, while losers are BPCL, Indiabulls Housing, IOC and Zee.

The Volatility gauge, India VIX was down 0.11% at 14.99.

The most active stocks on the NSE are SBI Life, Axis Bank, and DHFL.

Dewan Housing Finance Corp Ltd stock slipped 3% after the company said it had only been able to make a 40% payment on unsecured commercial papers due on Tuesday, but vowed to pay the remaining Rs225cr ($32.49 million) in the coming days

Crude oil prices surged more than 1% to touch their highest in nearly a month on account of higher-than-expected fall in US crude inventory and US-Iran geopolitical tensions.  Shares of BPCL, IOC, and HPCL were down 1% each.

The Indian rupee opened lower at 69.40 against the US dollar on Wednesday. 

Meanwhile, Asian stocks slipped and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

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