Snapping two-day losses Indian stock indices rise marginally

Erasing two-day of losses, Indian stock indices gained marginally in early trade on Wednesday. The latest softening of global crude oil prices and signs of inflation slowly receding are likely to have lent support to the equity markets. Global crude oil prices have fallen below the psychological level of $100 per barrel after several weeks. At 9.37 a.m., Sensex was at 54,092.73 points, up 206.12 per cent or 0.38 per cent, whereas Nifty was at 16,115.55 points, up 57.25 points or 0.36 per cent. Among the Nifty 50 companies, 41 were in the green and while 8 declined in the morning session. On crude prices, brokerage firm Kotak Securities said crude oil came under severe selling pressure after failing to sustain above $105 per barrel level, and is now back close to $95.