The Indian equity benchmark indices opened half a percent higher on Wednesday following positive cues from the global markets. At 9:15 am, the Sensex opened 0.5 percent or 280 points higher at 56,599. The Nifty50 index opened higher at 16,865 -- up 95 points or 0.5 percent. The broader market indices were trading higher and all the sectoral indices were in the green.

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Bluechips leading the gains on the Nifty50 index were Tata Motors, Hindalco, IndusInd Bank, UPL, and Reliance Industries. Each scrip gained over 1-3 percent. Leading the losses were Cipla, SBI Life, Wipro, Asian Paints, and Power Grid.

Shares of Zee Entertainment Enterprises Ltd (ZEEL) opened 2.24 percent higher at Rs 355.60 on Wednesday on the BSE after the board of directors of the entertainment major approved the binding agreement with Sony Pictures Networks India (SPN), a subsidiary of Sony Pictures Entertainment.

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Globally, Asian shares traded in the green as the risk appetite of global investors rises heading into year-end, despite the surging number of Omicron variant cases around the world.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent following overnight gains on Wall Street. Japan's Nikkei stock index was 0.15 percent higher, overlooking the current rise in case numbers.

A better night on Wall Street provided the positive lead for Asian markets with a sharp rebound in sentiment for US stocks. The Down Jones closed 1.5 percent higher, S&P 500 gained nearly 2 percent whereas Nasdaq rose over 2.5 percent.

Crude oil was trading higher with the US oil rising half a percent to $71.42. The brent crude, on the other hand, was up over 0.2 percent to $74.15. Gold was slightly higher with the spot price trading at $1789 per ounce.

(With inputs from Reuters)