Indian Stock Markets Open Higher; Sensex Up Over 100 Points

Indian stock markets were trading higher on Wednesday, ahead of the Organization of the Petroleum Exporting Countries meeting in Vienna. The S&P BSE Sensex climbed 109.2 points, or 0.41 percent at 26503.18. The 30-share index touched a low of 26,402.23 in morning trade. The Nifty50 rose 0.45 percent to 8178.50, after touching a low of 8,142.40 in morning trade.

The S&P BSE Midcap Index gained 0.65 percent, while the BSE S&P Smallcap Index rose 0.77 percent.

The Indian rupee rose 7 paise to trade at 68.58 versus the U.S. dollar.

Direxion Daily India Bull 2X Shares (NYSEARCA: INDL) rose 0.92 percent to close at $45.07 on Tuesday, while PowerShares India Portfolio (ETF) (NYSEARCA: PIN) gained 0.36 percent to close at $19.31.

US stock markets closed higher on Tuesday, with the Dow Jones Industrial Average gaining 0.12 percent, the S&P500 index climbing 0.13 per cent, and the Nasdaq Composite rising 0.21 percent.

US WTI crude futures on the NYMEX gained 0.53 percent to trade at $45.47 per barrel.

Top market movers among the BSE index are as follows

• Gokul Refoils & Solvent Ltd. rose about 20 percent to 18.00 INR.
• Pioneer Investcorp Ltd. rose 20 percent to 29.10 INR.
• Mobile Telecommunications Ltd. shares gained around 18 percent to 3.60 INR.
• Velan Hotels Ltd. shares surged 18 percent to 6.59 INR.

• Bajaj Healthcare Ltd. tumbled 10 percent to 215.00 INR.
• Tirupati Sarjan Ltd. shares dropped around 10 percent to 16.15 INR.
• Amrit Corp. Ltd. fell around 8 percent to 500.00 INR.
• Classic Global Finance And Capital Ltd. shares declined 8 percent to 4.61 INR.