Sensex up 95 points at 38,456, Nifty above 11,500 mark

Mumbai: Equity indices fluctuated wildly in the morning session on Wednesday with realty index gaining about 2 percent.
However, banking, auto, media, and financial services traded in the red.

At 11:15 am, the BSE S&P Sensex was up 95 points at 38,456 while the NSE Nifty 50 was up 9 points at 11,541.

Shares of Jet Airways dropped over 4 percent after the crisis at the company deepened on Tuesday. A worried government called for an emergency meeting, pilots threatened to go on strike over unpaid salaries and angry passengers demanded refunds for flight cancellations.

Among the gainers on National Stock Exchange were Indiabulls Housing Finance, Godrej Properties, Infosys, Wipro, and Hindalco. But Indian Oil, Hindustan Petroleum and Bharat Petroleum traded lower.

The most active stocks were Jubilant, Infosys, Axis Bank, and Reliance Industries.

Meanwhile, Asian shares slipped as investors took profits ahead of a policy decision by the US Federal Reserve which will reflect on interest rate plans.

Market experts said the selling was triggered by US concerns that China is pushing back against US demands in trade talks. However, officials remained locked in negotiations to thrash out a solution over tariffs.