Equities gain some ground, Nifty hovers around 11,820

Equity benchmark indices opened in the red on Wednesday but gained some ground as the trading progressed despite weak cues from Asian markets.

At 10:15 am, the BSE S & P Sensex was up 90 points at 39,525 while the Nifty 50 gained 20 points to 11,817. Except metal and PSU bank, all sectoral indices at the National Stock Exchange were in the green.

Among stocks, Power Grid traded 2 per cent higher while power utility major NTPC was up 1.8 per cent. The others which showed gains were Larsen & Toubro, Sun Pharma and ONGC.

However, Bharat Petroleum Corporation, Indian Oil, Indiabulls Housing Finance, Britannia and Tata Steel were in the red.

Meanwhile, Asian stock markets slipped after overnight losses on the Wall Street as Washington's conflict with trading partners continued.

Investors awaited US-China trade talks on the sidelines of upcoming G-20 meeting later this week in Japan. Rising geopolitical tensions between the United States and Iran also kept traders on the edge.

.