Nifty tests 18,300-mark, Sensex above 61,400; Asian Paints top gainer

10: 15 am Domestic equity benchmarks Nifty50 and S&P BSE Sensex were trading flat with positive bias as Nifty50 was seen attempting 18,300-mark, while S&P BSE Sensex gained 75 points to trade near 61,425.72. Both indices lost early gains with Asian Paints gaining maximum on Nifty and Sensex. ICICI Bank, State Bank of India, Divis Lab, Sun Pharma were other top gainers 

Earlier in the market open....

Indian share market started Wednesday's trading session on positive note as Nifty 50 opened near 18,300 at 18,295.85, while S&P BSE Sensex at 61,499.70. 

Asian Paints, Cipla, Bajaj FinServ were top gainers on Nifty 50, while Axis Bank and Tata Motors declined the most on Nifty benchmark index at the market open. 36 shares advanced, 13 declined and one remain unchanged on Nifty50. Nifty Bank opened slightly negative at 41,234.55. 

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In the pre-open, Sensex gained 245 points to reclaim 61,500. The 30-share index traded at 61,595.79 or 0.40% above in the pre-open even as 26 shares advanced and 4 declined. Similarly, 43 shares advanced and 7 declined on Nifty. 

Earlier after Tuesday's closing, Vijay Dhanotiya, Lead Technical Research Analyst at CapitalVia Global Research, had said 18,200 will be crucial level to watch out for. 

"The Market witnessed some volatile movements and an attempt to hold the level above the Nifty 50 Index level of 18200. Our research suggests that 18200 will be an important support level for the market. If the market is able to sustain the level of 18200, we can witness a positive momentum in the market, which can lead to the higher levels near 18600. We have observed the momentum indicators like RSI and MACD indicating positive momentum in the market," Vijay Dhanotiya had said on Tuesday

Meanwhile, major Asian Markets traded negative on Wednesday morning. Nikkei 225 index slipped 169 points at 28937, Hang Sang Index on Hong Kong Exchange declined 376 points to 25,657, a loss of around 1.5% around 8.10 this morning. Shanghai Composite index was also down 0.70 per cent to trade at 3572 around this time. 

Earlier on Tuesday, Dow Jones settled at 35,756.88, 15.73 or 0.044%, Nasdaq Composite at 15,235.72, up 9.01 points or 0.059% and S&P 500 gained 8.31 points to end Tuesday at 4,574.79.

Benchmark Indian stock market indices Nifty and Sensex have also closed Tuesday with significant gains amid push from auto and metal shares.

(It's a developing story. Pls check back for the updates.)