Indian markets opened higher on Wednesday after heavy sell-offs in the last two sessions.

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At 9:15 am, the Sensex opened 156.50 points or 0.38 percent higher to 41,480.31, while the Nifty50 index was trading at 12,213.40, up 43.55 points or 0.36 percent.

Broader indices were also trading higher on Wednesday morning, with Nifty Smallcap100 outperforming Nifty Midcap100. The former was trading 0.87 percent higher, while the latter was up 0.32 percent.

Nifty IT remained the best-performing index in the early morning session, up 0.86 percent, while the Nifty Media index was the worst-performing index, down by 0.41 percent.

Vedanta, Infosys, Wipro, TCS, and YES Bank were the Nifty50 top gainers. Coal India, ONGC, NTPC, Power Grid, and Zee Entertainment led the losses.

Havells India's share price slipped nearly 5 percent intraday on Wednesday after the company reported weak Q3 earnings. Its consolidated net profit rose 2.81 percent year-on-year (YoY) to Rs 201.22 crore in the third quarter.

In Asia, stock markets bounced as China's response to a virus outbreak tempered fears of a global pandemic, although Shanghai shares slipped amid worries about a hit to domestic demand and tourism.

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