The BSE benchmark Sensex rose over 150 points in early trade led by gains in banking and auto stocks amid positive cues from other Asian markets.
The BSE gauge Sensex was trading above the psychological 39,000-level in early deals up 176.95 points, or 0.45%, at 39,233.60. The 30-share BSE index on Tuesday settled at 39,056.65, 184.78 points or 0.48%cent higher, marking its highest ever closing.
Similarly, the NSE benchmark Nifty was trading 39.05 points, or 0.33%, higher at 11,752.25 in early session.
Top gainers on Sensex include Tata Motors, IndusInd Bank, HDFC twins, PowerGrid, Kotak Bank, Tata Steel, Bharti Airtel, Yes Bank, M&M, Maruti, Bajaj Finance, SBI and RIL, rising up to 2.05%.
On the other hand, Infosys, HUL, Coal India, L&T and Sun Pharma were the top losers, falling up to 0.68%.
According to experts, inflow of foreign liquidity in expectation of rate cut from the Reserve Bank of India (RBI) and revival in earnings will provide some stability in the market.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in ₹543.36 crore on Tuesday, while domestic institutional investors (DIIs) sold equities to the tune of ₹437.70 crore, provisional data available with stock exchanges showed.
The Monetary Policy Committee (MPC) is holding a two-day meeting between April 2 and April 4 for the first bi-monthly policy statement for 2019-20. The RBI will unveil its first bi-monthly monetary policy decision of this new fiscal on Thursday.
Meanwhile, the rupee appreciated by 9 paise to trade at 68.65 to the U.S. dollar in early trade on Wednesday.
Brent crude futures, the global oil benchmark, rose 0.52% to trade at $69.73 per barrel.
Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading positive.
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