Sensex up 200 points, Nifty above 10,700

Mumbai: The Sensex on Wednesday opened over 200 points higher while the Nifty reclaimed the 10,700 mark owing to strong gains in banking stocks.

The BSE Banking index gained over 1 percent.

However, investors would be cautious ahead of the third quarter results of key companies — Bajaj Auto, ICICI Bank, LIC Housing Finance, NTPC — to be announced later in the day.

Also, investors across the globe will take cues from the key US-China trade talks to begin later in the day.

The S&P BSE Sensex opened over 200 points higher at 35,819.67 from its previous close of 35,592.50.

At 9.16 a.m., the Sensex traded 155.67 points or 0.44 percent higher at 35,748.17.

The broader Nifty also opened higher at 10,702.25 from its Tuesday’s close of 10,652.20. It traded 51.75 points or 0.49 percent up at 10,703.95.

Dewan Housing Finance Corporation (DHFL) stocks continued to witness heavy selling pressure.

Shares of the housing finance institution, fell over 6 percent to Rs 159.70 per shares in the morning trade session.

The shares of DHFL tanked on Tuesday after Cobrapost, a news website claimed that primary promoters of DHFL siphoned off over Rs 31,000 crore of public money.