Stock Market Today: Sensex Rises Over 300 Points, Nifty Above 16,300

The key benchmark indices started on a positive territory amid mixed global cues. 

At 9:27 a.m., the BSE Sensex was up 380 points to 54,701, and the NSE Nifty50 was up 105 points to 16,364.

Barring Powergrid, Tata Steel, NTPC, Nestle, ITC, and Titan, who were down up to 0.9 per cent, all other stocks in the 30-stock index opened in green.

Bharti Airtel, Sun Pharma, Bajaj Finance, Dr Reddy, HDFC Bank, Bajaj Finserv were leading gainers, with up to 1.6 per cent rise.

The broader markets, meanwhile, opened in green. The BSE MidCap and SmallCap indices rose up to 0.9 per cent. 

Most of the sectoral indices were positive with Nifty Bank, Auto, Financials, FMCG, and IT, gaining up to 1.1 per cent.

Meanwhile, the Rupee slipped 6 paise to 77.50 against US dollar in early trade.

Asian stocks were trading mixed on Wednesday morning, despite strong gains on Wall Street. Japan's Nikkei gained 0.63%; Australia's ASX 200 jumped 0.78%. South Korea's Kospi added 0.03%. China's Shanghai shed 0.27% while Hong Kong's Hang Seng dropped 0.67%.

Wall Street finished sharply higher on Tuesday. The S&P 500 climbed 2.02% to end the session at 4,088.85 points. The Nasdaq gained 2.76% to 11,984.52 points, while Dow Jones Industrial Average rose 1.34% to 32,654.59 points.