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Indian Indices: After hovering near highest point of the day, Indian equity benchmarks pared some gains ahead of F&O expiry but continued to trade in fine fettle in late afternoon session. Positive trend in global markets buoyed investors' sentiments. Traders remained optimistic with Union minister M Venkaiah Naidu’s statement that several views have been presented on demonetisation, it may have caused initial discomfort or loss to public but will reap benefits in longer run. He added that it is like a bitter pill for long term ill. On sectoral front, select banking stocks were trading higher with the Deputy Governor Viral Acharya's statement that in order to decisively deal with the banking system's stressed assets, which have doubled from 2013, the Reserve Bank of India is examining a plan involving two models - a Private Asset Management Company (PAMC) and a National Asset Management Company (NAMC). Some support also come with a private report stating that India’s millennial population is a massive disruptive force and driven by the supportive demographics along with government's policy action, Indian economy is likely to reach $5 trillion by 2025.

The BSE Sensex is currently closed at 28864.71, up by 103.12 points or 0.36% after trading in a range of 28789.30 and 28963.52. There were 12 stocks advancing against 18 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 0.60%, while Small cap index was down by 0.39%. The CNX Nifty is currently shut up at 8926.90, up by 19.05 points or 0.21% after trading in a range of 8905.25 and 8960.75.

Crporate Front: Weighed down by the development, shares of company declined as much as 3.20 per cent to hit an intra-day low of Rs 1510.00 apiece on the Bombay Stock Exchange. In a similar fashion, stocks of company tanked 2.99 per cent to Rs 1,513.40 apiece on the National Stock Exchange.

Macroeconomic front: In a major push for solar power development in the country, a cabinet panel on Wednesday approved increasing the capacity of solar parks and projects from 20,000 MW to 40,000 MW. "The enhanced capacity would ensure setting up of at least 50 solar parks -- each with a capacity of 500 MW and above -- in various parts of the country," Power and Renewable Energy Minister PiyushGoyal told reporters following a meeting here of the Cabinet Committee on Economic Affairs (CCEA).

On the global front: On global front, European markets were trading in green following firm cues from Wall Street and Asia. Asian markets were trading in green, although gains remained capped due to caution ahead of the Fed's latest meeting minutes due out later in the day. Back home, in scrip specific development, Vijaya Bank traded higher after Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with Vijaya Bank for providing concessional finance to micro and small enterprises (MSEs).

Commodity Updates:

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 4.26%, Oil & Gas up by 1.80%, Realty up by 0.34%, Bankex up by 0.31% and Telecom up by 0.18%, while IT down by 1.60%, TECK down by 1.33%, Utilities down by 1.07%, Consumer Durables down by 1.02% and Power down by 1.00% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Reliance Industries up by 9.74%, Axis Bank up by 3.50%, Coal India up by 3.00%, BhartiInfratel up by 2.03% and Tata Motors - DVR up by 1.88%. On the flip side, NTPC down by 2.87%, Infosys down by 2.50%, Grasim Industries down by 2.49%, Power Grid down by 2.40% and TCS down by 2.04% were the top losers.

Global Signals:

Asian markets were trading mostly in green; KOSPI Index increased 3.68 points or 0.17% to 2,106.61, Jakarta Composite increased 6 points or 0.11% to 5,346.99, Shanghai Composite increased 7.89 points or 0.24% to 3,261.22, Taiwan Weighted increased 14.85 points or 0.15% to 9,778.78 and Hang Seng increased 238.33 points or 0.99% to 24,201.96. On the flip side, Nikkei 225 decreased 1.57 points or 0.01% to 19,379.87 and FTSE Bursa Malaysia KLCI decreased 1.5 points or 0.09% to 1,705.05.

All European markets were trading in green; UK’s FTSE 100 increased 23.67 points or 0.33% to 7,298.50, France’s CAC increased 31.54 points or 0.65% to 4,920.30 and Germany’s DAX increased 53.28 points or 0.45% to 12,020.77.