Cipla, TCS, Just Dial, ICICI Bank and Reliance Industries are most active shares on the NSE.

European markets opened higher, despite heightened fears of a full-blown Sino-US trade war.

Britain's FTSE gained 0.75 percent while Germany's DAX rose half a percent and France's CAC climbed 0.3 percent.

The market remained strong in the afternoon as Asian counterparts extend rally with Japan's Nikkei, Hong Kong's Hang Seng and South Korea's Kospi rising a percent each after traders digest elevated fears of a trade war between the world's largest economies the US and China.

The 30-share BSE Sensex rallied 200.86 points to 35,487.60 and the 50-share NSE Nifty gained 50.40 points at 10,760.90, backed by index heavyweight Reliance Industries and banking & financials.

Kolkata based biscuit maker Anmol Industries has filed the draft red herring prospectus with capital market regulator Securities and Exchange Board of India (SEBI) for its initial public offering.

The public issue consists of offer for sale of Rs 750 crore by Baijnath Choudhary & Family Trust (Rs 720.4 crore), SKG Land Developers LLP (Rs 22.5 crore), Delta Nirman LLP (Rs 4 crore), Anmol Hi-Cool LLP (Rs 2.5 crore) and Puneet Mercantiles LLP (Rs 6 lakh).

Credit Suisse has upgraded the rating on Bajaj Auto to Outperform with a target price at Rs 3,360 per share, implying an 18 percent potential upside. The stock price rose a percent intraday.

The research house also raised its earnings estimate by 4-6 percent for FY19-20.

The stock looks relatively better amongst 2-wheelers, the global brokerage firm feels.

The market extended gains on further recovery in Asian counterparts that were hit by elevated fears of a trade war between the US and China.

Index heavyweight Reliance Industries and banking & financials stocks pushing the market higher.

Shreyas Shipping informed exchanges that the company has taken a delivery of multipurpose vessel M.V SSL Krishna.

With this acquisition, the total fleet strength of the company reached 14 vessels.

The company has fixed June 27 as the record date for the purpose of ascertaining the eligibility of the members for sub-division of equity shares from the face value of Rs 2 each to Re 1 each and issue of bonus equity shares of Re 1 each in the ratio of 1:2.

Oil prices recovered some day-earlier losses in Asia, supported by a drop in US commercial crude inventories and the loss of storage capacity in oil producer Libya.

US crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to American Petroleum Institute (API) in a weekly report on Tuesday.

Brent crude futures rose 0.45 percent, to $75.42 per barrel, compared with their last close on Tuesday. US West Texas Intermediate (WTI) crude futures gained 0.74 percent, to $65.55, reports Reuters.

Benchmark indices extended recovery in morning with the Sensex rising 175.58 points to 35,462.32, backed by Reliance Industries that gained 2 percent.

HDFC and HDFC Bank also pushed the market higher, rising 0.6 percent each.

The 50-share NSE Nifty rose 46.70 points to 10,757.20 while the Nifty Midcap index climbed half a percent.

Nomura has upgraded state-owned power equipment maker BHEL to Neutral with a target price at Rs 86 per share as the stock price seems to have bottomed out.

The company might witness modest growth & profitability recovery, the global research house said, adding its executable order book has improved.

The market continued to trade higher with Sensex and Nifty Bank indices rising around 100 points, following the recovery in the Asian peers barring Shanghai.

The China's Shanghai Composite slipped more than half a percent as concerns over a looming trade war between the world's two largest economies continued to linger. However, other Asian peers like Hong Kong's Hang Seng. Japan's Nikkei and South Korea's Kospi gain 0.5-1 percent.

India is likely an outperformer even as absolute returns are capped by a tepid global equity market outlook, global investment bank Morgan Stanley said in a note.

Improving growth, reasonable largecap valuations and a low beta are up against an election year, rising oil prices and higher yields, it said.

The global investment bank prefers largecaps over midcaps. Morgan Stanley is positive on banks (private corporate and retail), discretionary consumption, industrials, and domestic materials, while avoiding healthcare, staples, utilities, global materials and energy.

Morgan Stanley has a target of 36,000 on the BSE Sensex for June 2019 and this is under the base case scenario which would mean that the index would trade at just under 16x one-year forward P/E, below its historical average.

Benchmark indices continued to trade higher following the recovery in Asian peers that were traded sharply lower in the previous session due to elevated trade tensions between world's largest economies US and China.

The 30-share BSE Sensex rose 77.84 points to 35,364.58 and the 50-share NSE Nifty gained 19.20 points at 10,729.70.

Chemicals firm Fine Organic Industries raised Rs 180 crore from anchor investors, ahead of its initial share sale today.

The company has allotted 22,99,497 equity shares to 15 anchor investors at Rs 783 per scrip, garnering Rs 180.05 crore, Fine Organic Industries said in a statement.

Among the anchor, investors are Goldman Sachs India, HDFC Small Cap Fund, SBI Magnum Comma Fund, DSP BlackRock Equity & Bond Fund and IDFC Equity Opportunities Fund - Series 5.

The price band for the initial public offer (IPO), which will close on June 22, has been fixed at Rs 780 to Rs 783 per equity share.

Shares of Wheels India gained as much as 10 percent as investors cheered the news of bonus issue in the offing.

The company, in a filing to the exchanges, said that a Board meeting is scheduled for Friday, June 22, 2018.

“We hereby give prior intimation that the Board of Directors of the firm may consider bonus shares in the aforesaid meeting,” the company said in the statement which was filed with the bourses.

The Indian market has broken the trend of underperformance on a relative basis and is holding up pretty well amid the emerging market sell-off, Laurence Balanco of CLSA told CNBC-TV18.

He feels the uptrend will resume as long as Nifty holds above 50-DMA (10,653). He has retained his Nifty Bank target at 31,000.

Balanco thinks pharma space has made a base and might see an upswing in near term.

Dollar strength has been negative for emerging markets, he said.

Shares of Cipla gained as much as 3 percent as the company received final approval for Efavirenz tablets from USFDA.

The company has received final approval for its abbreviated new drug application (ANDA) for Efavirenz tablets 600mg from the (USFDA) United States Food and Drug Administration.

Efavirenz tablets is an AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company’s, Sustiva.

It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults and in pediatric patients at least 3 months old and weighing at least 3.5 kg.

The market traded higher after two-day losses, as traders digested lingering US-China trade war fears.

The 30-share BSE Sensex rose 114.31 points to 35,401.05 and the 50-share NSE Nifty gained 32.80 points at 10,743.30. More than two shares advanced for every share falling on the BSE.

The Indian rupee rebounded in morning on Wednesday, trading 25 paise higher at 68.13 against the dollar.

On Tuesday, the currency fell 40 paise to 68.38 against the dollar on sustained demand for the American currency from importers and banks amid lower local equities.

Benchmark indices rebounded after two-day fall on US-China trade war tensions.

The 30-share BSE Sensex rose 102.01 points to 35,388.75 and the 50-share NSE Nifty gained 37.70 points at 10,748.20.

Cipla, Bharti Airtel, M&M, Axis Bank, Reliance Industries, Dr. Reddy's Labs, GAIL and Maruti Suzuki are early gainers.
Power Grid and UltraTech Cement are under pressure.

The Nifty Midcap index gained 80 points and Nifty Bank rose 68 points.

Strides Shasun, Prestige Estates, Vakrangee, Brigade Enterprises, Bhansali Engineering, GM Breweries, Mishra Dhatu, Wheels India, Alok Industries, Just Dial, Opto Circuits, Andhra Bank and Canara Bank gained up to 7 percent.

Bajaj Hindusthan, CG Power, Ruchi Soya and Jaiprakash Associates are under pressure.

Benchmark indices rebounded in pre-opening amid ongoing US-China trade tensions.

The 30-share BSE Sensex rose 102.67 points to 35,389.41 and the 50-share NSE Nifty gained 16.50 points at 10,727.

Equity benchmarks extended profit booking weighed by weak global cues on Tuesday. 

The price action formed a long bear candle carrying lower high-low, as downward momentum accelerated on the breach of last week’s low (10,755). As discussed earlier, the lack of faster retracement on either side makes us believe that Nifty would extend ongoing consolidation in the range of 10,930-10,650 over next couple of weeks. In coming sessions, we expect Nifty to find support near key value area of 10700 -10650 which should be used as an incremental buying opportunity amid the stock specific action. We believe, this consolidation would form a higher base formation, which would set the stage for next leg of up move towards 10,930, as it is confluence of:

80% retracement of major decline seen in February-March (11,172 – 9,952), at 10,927

May’s high of 10,929

The secondary phase of correction is a integral part of the primary bull trend. We believe, investors should avoid creating aggressive short position at current level (as Stochastic oscillator is approaching oversold territory) and capitalize any dip towards 10,650 to accumulate quality stocks in a staggered manner, as the support is placed near key value area of 10,650, as it is confluence of:

placement of upward sloping trend line drawn adjoining 9,952– 10,418 around 10,650

61.8% retracement (10,551- 10,893) is placed around 10,680.

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