Reliance Industries will have its 43rd Annual General Meeting (AGM) on Wednesday evening.
Domestic stock markets started Wednesday's session on a positive note tracking gains in Asian equities, a day after losses in financial stocks pulled benchmark indices Sensex and Nifty nearly 2 per cent lower. The S&P BSE Sensex index jumped as much as 1.26 per cent - or 454.06 points - to touch 36,487.12 in early trade, having started the day up 0.78 per cent at 36,314.76. The broader NSE Nifty 50 benchmark climbed to as high as 10,741.45, soon after logging a gap-up opening at 10,701.00. At 9:51 am, the Sensex traded 414.41 points (1.15 per cent) higher at 36,447.47, while the Nifty was up 119.15 points (1.12 per cent) at 10,726.50.
Analysts awaited large cap earnings from more large cap companies, a day after IT major Wipro reported a quarter-on-quarter rise of 2.76 per cent in net profit for the April-June period.
Shares in Bengaluru-based Wipro were stuck in the upper circuit at 10 per cent, and led gains in the IT pack, after the company reported a net profit of Rs 2,390.20 crore for the quarter ended June 30.
Infosys, the country's second-largest IT services provider, will report its financial results for the first quarter of current financial year later in the day. Shares rose 3.66 per cent to touch the Rs 811.90 mark on the bourse.
Reliance Industries will conduct its annual general meeting on Wednesday.
Equities elsewhere in Asia mostly moved higher, shaking off heightened US-China tensions and the spread of the ongoing coronavirus pandemic, with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading 0.24 per cent higher.
While Japan's Nikkei 225 benchmark was up 1.44 per cent at the time, South Korea's KOSPI benchmark was up 0.64 per cent, but China's Shanghai Composite and Hong Kong's Hang Seng indices were down 1.91 per cent and 0.43 per cent respectively.
the E-Mini S&P 500 futures traded 0.74 per cent higher, indicating a positive start for US markets on Wednesday.
Overnight on Wall Street, the S&P 500 benchmark ended 1.34 per cent higher, whereas the Dow Jones Industrial Average and Nasdaq Composite barometers rose 2.13 per cent and 0.94 per cent respectively, as investors bought energy and materials stocks, and looked beyond a recent jump in coronavirus cases.
The Sensex had declined 660.63 points - or 1.80 per cent - on Tuesday to end at 36,033.06, and the Nifty settled at 10,607.35, down 195.35 points - or 1.81 per cent - from its previous close, as rising COVID-19 cases in the country and weak global cues rattled investors' sentiment.
