Opening bell: Sensex opens in green, Nifty tops 10,350 mark

The BSE benchmark Sensex on Wednesday opened in green. Sensex started at 34,493.21 and the Nifty50 index of the National Stock Exchange (NSE) at 10,331.85. At 9:32 AM, Sensex was up by 151.45 or 0.43% to trade at 34,433.12 while Nifty was up by 50.00 or 0.49% to reach at 10,353.25 points. 

Among the early gainers were, Hero MotoCorp, Tata Motors, Bajaj Auto, Vedanta, and Maruti Suzuki. 

Meanwhile,  Asian shares barely moved on Wednesday after world stocks hit eight-week lows the previous day on worries about global economic growth, although the British pound stayed firm on hopes for a Brexit deal.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, while Japan's Nikkei average fell 0.4 percent and the Australian benchmark was up just 0.1 percent.

In China, mainland's benchmark Shanghai Composite shed 0.2 percent in choppy trade and Hong Kong's Hang Seng added 0.3 percent. 

"As uncertainty continues to prevail in financial markets across the world, many investors are staying on the sidelines until more clarity emerges in U.S. Treasury and Chinese markets," said Yasuo Sakuma, chief investment officer at Libra Investments.

Benchmark U.S. 10-year Treasury yields touched a 7-1/2-year peak of 3.261 percent and those on 30-year bonds hit their highest in more than four years, but later fell back.

Some traders say comments on Tuesday by U.S. President Donald Trump helped cool Treasuries yields. He said the Federal Reserve was going too fast in raising rates when inflation was minimal and government data pointed to a strong economy.

Meanwhile, after the International Monetary Fund (IMF) a growth rate of 7.3 per cent for India in the current year of 2018, Satyanarayan Bansal, chief executive officer (CEO) of Barclays, said that growth forecast might have been lower due to overall economic disruption.

Speaking to ANI, Bansal said, "Forecast might have been lower due to overall economic disruption. IMF sees India's domestic demand opportunities, change in structural reforms, increase in bank accounts, revamp of tax reforms, the influx of infrastructure investments (road, ports and civil aviation) and India's global service sector exporters as growth drivers. The global investors see the Indian market under the positive lens emerging as a global growth hub. India's growth rate is higher than China but since China is a larger economy, it is lower in absolute terms. Indian market is a mainstream discussion in corporate boardrooms and global business markets. The growth forecast by several agencies has been estimated at 7 -8.5 percent, which is well within reach and is a result of a viable business environment."