Indian shares opened higher on Wednesday as investors anticipate more policy initiatives from the government to arrest demand slowdown, especially in the auto sector.

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Asian shares rose as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings.

At 9:17 am, the Sensex was trading 67.58 points higher at 37,213.03, while the broader Nifty50 index was trading 13.55 points higher at 11,016.60. In broader markets, the Nifty Midcap rose 0.31 percent, while the Nifty Smallcap index gained 0.41 percent.

Yes Bank, Tata Motors, Vedanta, Tata Steel and Hindalco were the top gainers on the Nifty50, while GAIL, UPL, Indian Oil Corporation, BPCL and Infosys led the losses.

All sectoral indices were trading in the green except IT, FMCG and Realty. The Nifty IT index fell the most, down 0.15 percent. The Nifty Metal gained over 1 percent.

Globally, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.10 percent while Japan's Nikkei rose 0.32 percent. The Dow Jones Industrial Average rose 73.92 points to 26,909.43 and the S&P 500 gained 0.96 points on Tuesday.

(Inputs from Reuters)

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