Markets trade higher led by auto stocks

Indian benchmark indices made a positive start on Wednesday amid upbeat global cues.

The Sensex was trading higher by 199 points at 41,020, and the Nifty was up 56 points at 12,094

Yes Bank, Bharti Infratel, UPL, Eicher Motors, and Tata Motors were the top gainers, while Cipla, BPCL, ZEEL, and Sun Pharma were the top losers.

Shares of Yes Bank traded higher by over 5% after the company said it would discuss fund raising plans on Friday.

Except Nifty Media & Realty, all sectoral indices were trading higher. Nifty Auto (1.4%) was the top gainer led by Tata Motors and Ashok Leyland, which traded higher by nearly 3% each.

Meanwhile, the Indian rupee opened higher by 4p at 70.44/$ amid heavy foreign inflows.

Oil dipped on Wednesday after an industry report showed a surprise build in US crude inventory, however, optimism around the signing of the first phase of a US-China trade deal limited losses.

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