Indian shares opened higher on Wednesday, maintaining momentum from the previous day's rally, despite mixed global cues. Asian shares clung to tight ranges as investors awaited fresh directional cues from US-China trade negotiations.

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At 9:20 am, the S&P BSE Sensex was trading at 36,573, up 131 points, while the broader NSE Nifty50 was ruling at 11,027, adding 40 points. Meanwhile, broader markets mildly outperformed frontline indices with the Nifty MidCap rising 0.5 percent and Nifty Smallcap gaining 0.7 percent.

HPCL, Adani Ports, Indiabulls Housing Finance, ITC and Vedanta were top gainers on the NSE frontline index, rising between 1-2 percent. Sun Pharma, Asian Paints, Bajaj Auto and Zee fell by up to 0.7 percent.

Among sectors, all sectoral indices were trading in green, led by Nifty FMCG and Nifty Metal index. Nifty Realty, Nifty IT and Nifty PSU Bank were also up.

In major moves, Dewan Housing Finance Corp (DHFL) has surged nearly 20 percent at after the company released an independent review report that said that it has not promoted any of the 26 shell companies, which were alleged to have siphoned off about Rs 35,000 crore of the company by investigative news portal Cobrapost.

ITC also rose over 1.5 percent after the company hiked prices of three cigarette brands -Bristol, Flake Excel & Capstan.

Globally, Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from US-China trade negotiations and a weaker Wall Street finish capped broader gains, while robust US economic data supported the dollar.

MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed. Australian stocks added 0.2 percent while Japan’s Nikkei declined 0.5 percent.