New Delhi: Markets opened in the positive zone on Wednesday amidst positive global cues.

The BSE Sensex was trading 115.97 points or 0.30 points higher to 39,160.32 in late morning trade while the NSE Nifty edged up by 37.85 points or 0.33 percent to 11,559.65.

Major gainers in the Sensex pack were M&M, Bajaj Auto, RIL, Bajaj Finserve, Bajaj Finance, Ultrachem, Tata Steel, HDFC Bank, Nestle, LT, Maruti and SunPharma, rising upto 4.98 percent. On the other hand major losers were IndusInd Bank, Axis Bank, ONGC, SBI, Powergrid, Asian Paint, ICICI Bank, Titan, HCL Tech, NTPC, Bharti Airtel and Tech Mahindra, falling upto 1.39 percent.

The rupee witnessed high volatility against the US dollar in opening trade. The local unit opened at 73.70 at the interbank forex market, registering a decline of 7 paise over its last close, but soon pared the losses and was trading at 73.64, unchanged from its previous closing.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,170.89 crore on a net basis on Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 1.48 per cent to USD 41.13 per barrel.