Indian equity benchmark indices opened higher on Wednesday led by gains in banks, IT and pharma shares.

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At 9:15 am, the Sensex opened 587.09 points or 1.91 percent higher at 31,277.11, while the Nifty50 index opened at 9,196.40, up 202.55 points or 2.25 percent.

Broader indices also supported the benchmark indices, with Nifty Smallcap100 and Nifty Midcap100 indexes rising over 1 percent each.

Buying across sectors helped Nifty trade above 9,100 levels.

Hindalco Industries, UPL, ICICI Bank, Shree Cement and Axis Bank were the Nifty50 top gainers, while ZEEL, Maruti Suzuki, ONGC and Hero MotoCorp were the top drag.

Meanwhile, in Asia, share markets took a breather on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.

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