After a gap up opening, markets have erased their early gains on account of profit booking. The selling pressure on the index heavyweights such as Tata Motors, Axis Bank, ITC has dragged the markets lower.

At 11:30 am, the S&P BSE Sensex was down by 5 points at 25,488 and the Nifty50 gained 4 points at 7,754.

MUMBAI: Extending gains for the third straight session, the benchmark BSE Sensex surged over 123 points at 25,443.48 in early trade on Wednesday amid a firming trend at other Asian markets ahead of the outcome of the Federal Reserve meeting.

The 30-share index, which had gained 276.09 points in the previous two sessions, gathered another 123.04 points, or 0.48 per cent, at 25,443.48 with all the sectoral indices, led by oil & gas, IT, healthcare and power trading in positive zone.

The BSE Sensex and NSE Nifty are likely to open on a cautious note on Tuesday tracking mixed Asian markets ahead of US Federal Reserve meet.

Asian markets were mixed on Tuesday, as investors were reluctant to make any big moves amid volatile crude oil and before a widely anticipated US interest rate increase by the Federal Reserve later this week. Hang Seng and Shanghai were up 0.46 per cent and 0.14 per cent, while Nikkei were down 0.73 per cent in the morning trade.

Lingering concerns over the passage of GST Bill in the ongoing Parliament’s winter session and factors such as interest rate hike worries by the US Federal Reserve next week, falling commodity prices, funds outflow by foreign institutional investors and bleak global cues dragged the key benchmark indices over 2 per cent down for the week ended December 11. This week Sensex and Nifty fell 593.68 points and 171.45 points to 25,044.43 and 7,610.45, respectively.

During the week, Cairn India (down 9.80 per cent), Punjab National Bank (down 8.60 per cent), Vedanta (down 8.50 per cent), Coal India (down 8.20 per cent) and YES Bank (down 7.60 per cent) slid the most in the Nifty pack.

Shares of Larsen and Toubro (L&T) have slipped almost 2% to Rs 1,298, also its 52-week on the National Stock Exchange (NSE) in intra-day deals today.

Meanwhile, the company has secured orders worth Rs 1,960 crore across business segments.

Shares of IT major TCS gave gained 1.7% to Rs 2,368 on the BSE after the company in a filing to the BSE stated that Oman Housing Bank (OHB) has chosen TCS BaNCS Universal Banking to provide an enhanced end-customer experience in its endeavor to become a leading housing finance bank in the region.

Oman Housing Bank (OHB) will replace its home-grown legacy systems with a comprehensive solution from TCS BaNCS covering loans, deposits, origination, payments, funds transfer and compliance.

Shares of Bharat Heavy Electricals (BHEL) have gained 2.22% to Rs 168 on the BSE after Heavy Industry Minister Anant Geete clarified to the media that there were no plans of divestment of the government's stake in the company.

According to reports, Heavy Industry Minister Anant Geete has categorically denied that a propsoal of further stake sale in Bharat Heavy Electricals (Bhel) is being considered by the government at present.

Donear Industries has locked in upper circuit for the second straight day, up 20% at Rs 24, also its 52-week high on the BSE.

The counter has seen huge trading volumes with a combined 3.24 million shares changed hands till 10:58 AM as compared to sub one million shares that were traded daily in past two weeks. There were pending buy orders for 1.5 million shares on the BSE and NSE.

Indian regulators have launched an unprecedented drive to boost corporate transparency, bombarding firms with disclosure demands, but clumsy execution has created suspicions of a box-ticking exercise that may not entirely achieve its aim.

Poor disclosure among India-listed firms is a turnoff for foreign investors, a weakness Asia's third-largest economy can ill afford as competition for overseas capital heats up among emerging markets in expectation of higher U.S. interest rates.

Tata Sons, the promoter of major operating companies of the Tata group, will acquire additional 0.22 per cent stake in Titan Company at an estimated price of over Rs 66 crore, taking its total holding to 19.80 per cent.

Tata Sons will acquire 0.22 per cent stake from Tata International as part of restructuring its investment portfolio, Titan said in a BSE filing.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.