Indian share markets opened higher and soon moved into negative territory. At 9.45am, the Sensex was up 30 points at 47,582, and the NSE Nifty was up 8 points at 13,924. Broader markets underperformed headline indices with Nifty Midcap 100 trading weak by 0.64%.

The BSE Sensex opened 0.4 percent higher at 47,789 while the NSE Nifty 50 index gained 0.35 percent at the start of trade to open at 13,980. Among the sectoral indices, the Nifty Bank index opened with gains of 0.5% while the PSU Bank index was up 0.6% at the start of trade. FMCG, Media and Metal indices opened with gains between 0.4% and 0.5%.

Among top gainers are UPL, Tech Mahindra, Kotak Bank, SBI Life and HCL Tech, while losers include Hindalco, SBI, Grasism, IndusInd ank and Cipla.

Among stocks in focus, Jindal Stainless Limited Board of directors approves the merger of Jindal Stainless and Jindal Stainless (Hisar) into the company. As per the approved share swap ratio, 195 equity shares of Jindal Stainless will be issued for every 100 equity shares of Jindal Stainless Hisar.

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