Sensex up110 points on positive earnings posted by bluechips

The benchmark BSE Sensex rose by over 73 points in early trade on Wednesday on fresh buying in IT, oil and gas, banking and auto stocks after better than expected earnings by bluechips.

At 1046 hours the 30-share index was trading higher by 110.63 points at 27,417.46 or 0.41% up from previous day's close. The barometer had shed 58.09 in volatile trade on Tuesday.

Also, the National Stock Exchange index Nifty edged up by 18.70 points, or 0.23% at 8,280.35.

Brokers said sentiment turned better after HeroMoto Corp posted encouraging earnings on Tuesday. 

Shares of HeroMoto Corp were trading over 2% higher after company reported 1.13% rise in standalone net profit at Rs 772.06 crore for the second quarter ended September 30.

Among other gainers, Bharti Airtel rose by 2.1%, Reliance by 1.1%, while banking stocks like Axis Bank, ICICI and HDFC Bank rose up to 1%. Infosys and TCS were also trading in the positive zone.

Among other Asian markets, Japan's Nikkei was up 0.81 per cent and Shanghahi composite index shed 0.17% in early trade on Wednesday. Hong Kong market are closed today for a public holiday.

The US Dow Jones Industrial Average ended 0.08% lower on Tuesday's trade.