Market recovers, up 300 points

Indian benchmark indices regain what they lost in Tuesday's trading session. The indices were upbeat since early trade on Wednesday with BSE Sensex at 36,279.72, up by 306.01 points or 0.85 per cent and Nifty50 at 10,914.50, up by 79.20 points or 0.73 per cent.

Of the 50 companies on Nifty, 43 advanced, while 7 declined. The frontrunners were bluechip companies Sun Pharma, Yes Bank, Bajaj-Auto, Axis Bank, L&T. All up more than 2 per cent to 2 per cent from their Tuesday's close. The top loser was Wipro, which was downgraded by a leading international brokerage.

On BSE, the top gainers were Tata Steel, PC Jeweller, Suzlon, Orient Cement, Corporation Bank, which were up between 9.76 to 7.19 per cent in that order. Among the losers were Max India down 7.76 per cent and Wipro down 2.51 per cent, while Centrum, Infratel, Vijayabank were down to more than 1 per cent in Wednesday's morning session.

Sectorally, only Nifty IT was in the red, while all the rest indices were in the green. Nifty Pharma, PSU, Auto and Realty indices were up more than 1.50 per cent, while Metal and Media indices were up more than 1 per cent. Nifty Bank was at 27,171.60, up by 218.65 points or 0.81 per cent.

Meanwhile, following Tuesday's airstrikes on terror camps in Pakistan occupied Kashmir, the Indian External Affairs Minister Sushma Swaraj said the airstrike was not a military operation and were targetted only at terror infrastructure. The minister said that India does not look to escalate the issue further and will continue to act responsibly.