Benchmark indices opened the day higher as stocks in Asia-Pacific were seeing gains in Wednesday trade, despite a private survey showed slowing services sector activity in China last month. Dow Futures were also trending higher which added to the positive sentiments for the markets.
The Nifty was trading higher by 128 points at 15,047 points in early trade.
Shares in Yes Bank were higher after the bank said its shareholders have approved with a majority through voting a proposal for raising Rs 10,000 crore capital. The shares of Yes Bank were last seen trading at Rs 16.45 on the National Stock Exchange, with gains of 1 per cent.
Shares in Bank of Baroda were also in the limelight after the bank determined and approved the issue price of Rs 81.70 per Equity Share for a QIP (including a premium of Rs 79.70 per Equity Share), [which is at a discount of 5% (i.e. Rs 4.28 per Equity Share) to the floor price of Rs 85.98 per Equity Share.
The Bank Nifty was trading higher by 1.14 per cent.
Ircon International saw its share price gain as the offer for sale at the company will open on Thursday and Friday. The government will divest 10 percent equity stake in the company with an additional 6 percent as green shoe option.