Indian Market Firm In Early Trade .

The Indian market is edging higher on Wednesday in line with most other Asian peers. Shrugging off concerns over rising crude prices and the accompanying rate hike worries, the benchmark 30-share Sensex is currently up 122 points or 0.62 percent at 19,809, with 27 of its components advancing.

Likewise, continued buying by foreign funds is seen lifting the 50-share Nifty index up by 33 points or 0.57 percent to 5,943, while the BSE mid-cap and small-cap indexes are rising around a percent each. Consumer durable, metal, power and auto stocks are among the prominent gainers.

In the Sensex pack, Hindustan Unilever, Reliance Infrastructure, NTPC, Jaiprakash Associates, Cipla, Sterlite Industries, BHEL, Hindalco and Reliance Communication are up between 0.5 percent and 2 percent.

Mahindra Satyam is climbing 5 percent after it agreed to pay $10 million to settle U.S. probes into an accounting fraud that went undetected for several years. Maruti Suzuki is edging up 0.68 percent after it raised car prices across its models. Mahindra & Mahindra is adding half a percent and Tata Motors is up 0.92 percent.

Dunlop India is rallying 3.67 percent after it withdrew the lay-off notice issued to about 900 workers at its Sahagunj factory in West Bengal. Sesa Goa is up nearly 4 percent after the Supreme Court lifted a nine-month ban on iron ore exports from Karnataka.

Octant Interactive Technologies is locked at the 5 percent lower circuit limit despite bagging export orders worth Rs. 3 crore for castor derivatives. Sudarshan Chemical Industries is down 0.21 percent after it proposed to invest Rs.100 crore in upgrading its manufacturing facility at Roha in Pune.

Source : rttnews.com