Sensex rises over 200 points on strong global cues, Nifty above 10850

Sensex, Nifty today: On account of strong positive sentiments from the US-China trade talks and dollar slipping around 0.1 percent in the Forex market, Indian sensitive index Sensex rose 200 points while Nifty rose by 60 points. Sensex broke the psychological 36000 levels while Nifty went above 10,850, a level that equity experts have been predicting to achieve. Nifty bank index was also up by around 160 points. Sensex had registered 130 points on Tuesday after heavy profit booking in the mid trading session. Commenting upon the rise in Indian markets, Shrikant Chauhan, Senior VP — Equities at Kotak Securities told Zee Business online, "Markets are rising due to the strong global cues coming in through ease in a trade war between the US and China." He said that the market is expected to remain bullish. "Except some correction due to the profit booking, markets are looking strong and bullish and Nifty can touch the 10,850 and then 10,900 in coming to few trading sessions," said Chauhan of Kotak Securities.

Jagaran, DB Corp, IDBI, SADBHAV and GMR Infra were the top gainers in early intraday trade. Jagaran stock jump by around 7.5 percent, DB Corp share rose by 5.9 percent, IDBI strip rise by near 4.4 percent while GMR Infra share went northward by around 3.4 percent.

Tata Steel, Laksh Vilas, DBL and HFCL were among the list of top losing stock at Wednesday early trading session. Tata Steel went southward by around 10 percent while DBL slip by near 3.5 percent laksh Vilas slide by 3.3 percent and Syndicate Bank took a downward trend by around 2.1 percent from its Tuesday close.

Asian shares inched up on Wednesday, supported by optimism the United States and China can strike a trade deal to avoid an all-out confrontation that will severely disrupt the global economy.

Japan's Nikkei rose 0.9 percent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 percent. Wall Street's S&P 500 gained 0.97 percent on Tuesday, extending its gains from 20-month lows touched around Christmas to more than 9 percent.

The United States and China will continue trade talks in Beijing for an unscheduled third day on Wednesday, amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China's markets.

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Bloomberg also reported on Wednesday that US President Donald Trump is increasingly eager to strike a deal with China soon in an effort to perk up financial markets that have slumped on concerns over the trade war, citing people familiar with internal White House deliberations.

The rally in risk assets has accelerated since last Friday when Federal Reserve Chairman Jerome Powell said he was aware of risks to the economy and would be patient and flexible in policy decisions this year.