The benchmark indices are trading in a range with some positive bias on Wednesday despite weakness in their key Asian peers.
Some selling is visible among midcap names, with the Nifty Midcap trading around 0.40 percent lower. The Nifty IT index is up around 2 percent, while the metal index is down around 3 percent.
Globally, a sell-off in Chinese markets knocked Asian stocks on Wednesday as US threats of tariffs on an additional USD 200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war.
Oil prices declined after the United States said it would consider requests from some countries to be exempted from sanctions it will put into effect in November that prevents Iran from exporting oil.
Back home, at 13:10 hours, BSE SENSEX was 36301.37 up by 61.75 points or by 0.17 % and then NSE Nifty was at 10958.1 down by 10.90 points or by 0.1 %.
The BSE Sensex touched intraday high of 36341.08 and intraday low of 36169.7. The NSE Nifty touched intraday high of 10976.65 and intraday low of 10923.
The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 1957.90,+4.31%), Adani Ports & Special Economic Zone Ltd. (Rs. 376.50,+1.59%), Bajaj Auto Ltd. (Rs. 3136.55,+1.54%), Hindustan Unilever Ltd. (Rs. 1706.80,+1.16%), Axis Bank Ltd. (Rs. 538.60,+1.14%), among others.
The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 268.45,-3.44%), Vedanta Ltd. (Rs. 218.60,-3.25%), Tata Motors Ltd. (Rs. 268.55,-2.49%), Tata Steel Ltd. (Rs. 557.45,-1.96%), Tata Motors Ltd. (Rs. 155.35,-1.89%), among others.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2600, shares advanced were 1045 while 1402 shares declined and 153 were unchanged.