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Markets Live: Sensex, Nifty trade higher, Indian Oil up 4%

The Sensex opened higher on Wednesday. Photo: Hemant Mishra/Mint

Mumbai: The BSE Sensex opens higher at 31,641.87 points on Wednesday. The broader Nifty, too, rises in opening hours.

The Indian rupee strengthened marginally against the US dollar in the opening trade. Asian stocks were higher on Wednesday as investors hunted for bargains and shrugged off geopolitical tensions a day after North Korea fired a missile that flew over northern Japan.

Here are the latest updates from the markets:

11.30am: BSE Sensex trades higher by 253.48 points, or 0.81%, to 31,641.87, while the Nifty 50 rises 89.10 points, or 0.91%, to 9,885.15.

11.15am: Ashoka Buildcon Ltd rises 5% to Rs195.30 after huge block deal. Around 2 million shares or 1% stake of the company changed hands in two block deals, according to Bloomberg report. However, details of the buyers and sellers were not known.

11.00am: Oil marketing companies were trading higher. Hindustan Petroleum Corp Ltd rises 2.5%, Indian Oil Corp. Ltd rises 4%, Bharat Petroleum Corp Ltd 2%.

10.30am: Jaiprakash Associate Ltd rises 10% to Rs23.25. The Reserve Bank of India (RBI) has sent commercial banks a second list of at least 26 defaulters with which it wants creditors to start the process of debt resolution before initiating bankruptcy proceedings, Mint reported. According to some reports the companies in the second list include Jaiprakash Associates.

10.15am: Aurobindo Pharma Ltd rose 2% to Rs746 after Mint reported that the company is in talks to buy the Russia business of Mumbai-based Shreya Life Sciences Pvt. Ltd in a deal potentially valued between $80 million and $100 million.

9.45am: Dr Lal PathLabs Ltd rose 2.3% to Rs 803.50. Wagner Ltd sold 7.50 lakh shares or 0.9 percent stake at Rs 780 each, according to BSE Block deal data.

9.30am: BSE Sensex trades higher by 228.10 points, or 0.73%, to 31,616.49, while the Nifty 50 rises 79.45 points, or 0.81%, to 9,875.50.

9.25am: Ujjivan Financial Services Ltd rises 5% to Rs340.50 after the company said its arm Ujjivan Small Finance Bank granted “scheduled bank” status.

9.20am: Minda Industries Ltd rises 2.2% to Rs821 after the company said it will acquire 60% stake in MI Torica India for Rs 8.80 crore.

9.15am: The rupee opened at 63.94 a dollar. At 9.10am, the rupee was trading at 63.97 a dollar, up 0.07% from its Tuesdays close of 64.02.

9.10am: The 10-year bond yield was at 6.543% compared to its previous close of 6.568%. Bond yields and prices move in opposite directions.

9.00am: Asian currencies were trading mixed. South Korean won was up 0.35%, China Offshore 0.31%, China Renminbi 0.17%, Taiwan dollar 0.04%. However, Philippines peso was down 0.26%, Japanese yen 0.05%, Malaysian ringgit 0.04%.

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