Indian shares gained on Wednesday, snapping a three-day losing streak following positive sentiment in global markets. The BSE Sensex advanced nearly 100 points and NSE's Nifty50 traded above 11,600 led by bank and real estate stocks. Gains in Asian traded supported by robust US earnings and on record closing highs on Wall Street boosted Indian shares.

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Investors, however, remained cautious amid ongoing March-quarter earnings season and the April F&O expiry this week.

At 9:20 am, the BSE Sensex was trading at 38,655, up 91 points, while the broader NSE Nifty50 was ruling at 11,607, adding 31 points. Broader markets were in-line with benchmark indices, with Nifty Midcap and Nifty Smallcap up 0.4 percent each.

ONGC, BPCL, IndusInd Bank, Indiabulls Housing Finance and GAIL were the top gainers on the Nifty, while, Adani Ports, Ultratech Cements, Infosys, Grasim, and HeroMoto Corp fell the most on the index.

Sectoral indices were trading mixed with banking indices gaining while Nifty Metal, Nifty Pharma, Nifty Auto and Nifty FMCG were in the red. Nifty Realty rose 0.6 percent.

ACC fell 3 percent after it reported a below estimate EBITDA on account of higher power, fuel and freight costs. The company reported a 38 percent year-on-year (YoY) jump in net profit at Rs 346 crore for the first quarter ended March 2019.

Ultratech Cement also fell nearly 1 percent ahead of its March-quarter results, due later today.

IndusInd Bank gained over 2 percent after it received NCLT approval for Bharat Finance merger into the bank.

Indiabulls Real estate gained over 5 percent on robust Q4 results.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade in Asia. Australian shares gained 0.6 percent, while Japan’s Nikkei stock index was 0.3 percent higher. Seoul’s Kospi was up 0.1 percent.

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First Published:Apr 24, 2019 9:52 AM IST