Markets opened up on Wednesday tracking gains in Asian equities on optimism of further monetary policy by Japanese central bank to support flagging growth in the world's third-biggest economy.
Trading was, however, on a cautious note as US fiscal impasse sapped investor's appetite for riskier assets and ahead of Futures and Options expiry for December series on Thursday.
The Bombay Stock Exchange's Sensex index rose 47.38 points and opened at 19,302.47 while the National Stock Exchange's Nifty-50 index gained 9.2 points to open at 5,864.95.
In Asia, Japan’s new Prime Minister Shinzo Abe, whose Liberal Democratic Party won a landslide victory in the December 16 election, is scheduled to appoint a cabinet today after the lower house names him premier. The new government has promised economic policies to boost growth.
China's Shanghai Composite fell 0.2% to 2,208, Singapore's Straits Times rose 0.3% to 3,179, Japan's Nikkei gained 0.3% to 12,115 while Taiwan Weighted traded up 0.1% to 7,641. Financial markets in Hong Kong and Australia are closed on Wednesday for public holiday.
The MSCI Asia Pacific index outside Japan rose 0.3% to 893.79.
Back home,.pharmaceuticals, auto, metal, real-esate, banks indexes lead the gain while fast moving consumer goods declined on BSE.
Among key Sensex stocks, Sterlite Industries, Jindal Steel and Hindalco Industris gained nearly 1% in metal space while HDFC Bank, SBI and ICICI rose 0.2% each. On the other hand, Tata Motors and Mahindra & Mahindra fell 0.3% and 0.1% respectively while Wipro declined 0.27% on BSE.
The BSE mid-cap and small-cap gained nearly 0.3%.
The overall breadth is strong as 656 stocks advanced while 233 stocks declined on the BSE.
