Indian shares advanced on Wednesday supported by gains in global markets after US President Donald Trump's comments on trade talks with China eased tensions. Trump referred to the escalating trade war with China as “a little squabble,” and added, “We have a good dialogue going.”

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At 9:20 AM, the Sensex was up 115 points at 37,434, and the Nifty50 was trading 29 points higher at 11,251.

Indiabulls Housing, PowerGrid, GAIL, Adani Ports, and UPL were among the major gainers on the Nifty50, whereas YES Bank, Sun Pharma, Bharti AIrtel, Grasim, and Ultratech Cement led losses.

All sectoral indices were trading in green with Nifty Realty gaining the most, up 1 percent. Meanwhile, Nifty Bank and Nifty Auto were also up 0.4 percent in the morning deals.

Jet Airways slipped 6 percent after the company's chief executive officer (CEO) Vinay Dube has resigned with immediate effect due to personal reasons. Sources privy to the developments added that Rahul Taneja, chief people officer at Jet Airways, has also resigned.

YES Bank fell 4 percent after former Reserve Bank Deputy Governor R Gandhi was appointed as an additional director on the board of the private lender.

Union Bank of India was down over 5 percent after the bank's net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19, mainly on account of higher provisioning.

Meanwhile, Asian peers were trading mixed with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.05 percent and Australian stocks adding 0.07 percent. South Korea’s KOSPI slipped 0.1 percent and Japan’s Nikkei shed 0.4 percent.

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