Sensex, Nifty Bank extend rally on further recovery in Asian peer
Cipla, TCS, Just Dial, ICICI Bank and Reliance Industries are most active shares on the NSE.
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.
The market continued to trade higher with Sensex and Nifty Bank indices rising around 100 points, following 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.
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