The Indian equity benchmarks moved higher on Wednesday ahead of weekly expiry of index futures and option contracts led by gains in Reliance Industries, Infosys, ICICI Bank, ITC, Bharti Airtel and Larsen & Toubro. The Sensex rose as much as 382 points and Nifty 50 index was trading above its important psychological level of 17,600. Meanwhile, most of the Asian markets were trading higher as US inflation data which came overnight was as bad as expected.