The key Indian equity indices traded on a positive note on Wednesday, with the BSE Sensex rising around 200 points.
Healthy buying was witnessed in IT, metal and healthcare stocks.
Around 10.25 a.m., Sensex was trading at 46,206.80, higher by 200.11 points or 0.43 per cent from its previous close of 46,006.69.
It opened at 46,072.30 and has touched an intra-day high of 46,238.44 and a low of 45,899.10.
The Nifty50 on the National Stock Exchange was trading at 13,529.50, higher by 63.20 points or 0.47 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “13,100-13,150 is a good support for the Nifty and we are trading well above that this morning. Until that level is not threatened, we continue to remain in bullish territory. If that level breaks, we could slide down to 12,800.”
“On the upside, we need to get past the hurdles of 13,700-13,800 to start forming an opinion to go long again. Hence, a wait and watch approach would be a prudent way to deal with the current markets,” he added.
The top gainers on the Sensex were Bajaj Finance, Mahindra & Mahindra and Maruti Suzuki India, while the major losers were Power Grid, HDFC and ONGC.