The Indian market recovered from a weak start on Wednesday amidst muted global cues. At 12:00 PM, the Sensex was trading at 39,507.01, up 73.63 points, or 0.19 percent, while Nifty 50 was trading at 11,817.80, up 21.75 points, or 0.18 percent.

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Sun Pharma, Adani Ports, Power Grid Corporation, Yes Bank and NTPC were among the top gainers on the key indices, whereas Britannia, Indiabulls Housing Finance, BPCL, IOC and HDFC led the losses.

The Nifty Pharma index remained the best-performing index, while the Nifty IT was the worst-performing index, dragged lower by Oracle Financial Services, Mindtree, NIIT Technologies, Infosys and others.

Shares of DHFL plunged 9 percent on Wednesday after the company defaulted on unsecured commercial papers worth Rs 225 crore matured on Tuesday.

Shares of Emami surged over 6 percent on Wednesday after a Moneycontrol report claimed that the promoters were looking to sell controlling stake in its paper business along with select assets in its cement business.

Meanwhile, Asian shares slipped on Wednesday afternoon after US Federal Reserve Chairman Jerome Powell tempered expectations for a potential interest rate cut.

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First Published:Jun 26, 2019 12:59 PM IST