Sensex, Nifty Modestly Higher In Early Trade

Indian shares opened a tad higher on Wednesday, tracking mostly positive cues from global markets as investors await the release of Federal Reserve minutes from its November policy meeting for directional cues.

The benchmark S&P BSE Sensex rose 194 points, or 0.3 percent, to 61,613 in early trade, while the broader NSE Nifty index was up 56 points, or 0.3 percent, at 18,301.

Kotak Mahindra Bank, Dr Reddy's Laboratories, Titan Company, Tata Motors and SBI all gained around 1 percent in the Nifty pack.

Larsen & Toubro edged up slightly after it has bought the entire stake held by Chiyoda Corporation in L&T-Chiyoda Ltd for Rs 75 crore.

Vedanta declined 1.2 percent despite declaring an interim dividend of Rs 17.5 per equity share.

Nykaa fell about 2 percent after its chief financial officer Arvind Agarwal resigned from the company.

Paytm shares rose 1.5 percent after hitting a fresh 52-week low in the previous session.

Ultratech Cement was marginally higher after it withdrew from the bidding process to purchase the last of Jaiprakash Associates' cement holdings in India.

VA Tech Wabag rallied 2.6 percent and Adani Enterprises rose about half a percent on fund raising reports.

Tech Mahindra was little changed. LIC has increased its shareholding in the company from 4.86 percent to 6.87 percent.

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