Nifty reclaims 11,000 marks in early trading

Mumbai: Benchmark indices opened higher for the third consecutive session on Wednesday with the Nifty reclaiming 11,000 marks in early trading.

At 11 am, the BSE S&P Sensex was up 145 points at 36,588 while the NSE Nifty 50 climbed up 49 points to 11,036 level.

The most active stocks were ITC, ICICI Bank, Apollo Hospital and Reliance Industries.

Shares of Dewan Housing Finance jumped over 15 percent on the National Stock Exchange after an independent auditor certified that the company did not promote any of the 26 shell companies which were alleged to have siphoned off about Rs 35,000 crore.

Among other gainers were Wipro, Bharti Infratel, Bajaj Finance, ICICI Bank, and Vedanta. The scrips which slipped included Yes Bank, Axis Bank, Zee Entertainment, Tata Motors, and HCL Technologies.

Meanwhile, Asian markets moved in narrow ranges as investors awaited fresh clues on the progress of US-China trade negotiations.

On Tuesday, China announced billions of dollar in tax cuts to boost domestic consumption further this year. Beijing also said it will boost infrastructure spending to reduce the risk of an economic slowdown.