After rout on the indices on the fourth consecutive day, indices opened on a positive note. At the start, Sensex was up above 50000, up 340 pts. while Nifty gained to 14775. Broader markets also traded in line with gains of Nifty Mid cap 100.
Shares of Reliance Industries will be in focus after the company has announced demerger of its O2C business so as to garner stake from Saudi Aramco.
HDFC Bank shares will also in focus after SAT has stayed the order by SEBI which required the private sector lender to pay Rs. 160 crore in BRH Wealth Kreators' share pledging.
Also, with inflation fears mounting a report highlighted that 31 stocks out of 50 on the Nifty are exposed to commodity related risk.
Sectorally, the upmove is owed to realty and the metal space which were up almost 1 percent.
Meanwhile Asian indices at the time of writing this copy were mixed as inflation and higher US yield weighed. Hong Kong's Hang Seng was up by over 1 percent.