MUMBAI: The BSE Sensex rose more than 1 percent in early deals Wednesday, tracking strong Asian peers, as the monthly derivatives expiry and a long weekend sparked some short covering.
At 9:57 a.m. (0427 GMT), the 30-share BSE index was up 1.4 percent at 11,159.35 points, with 29 stocks gaining.
Top telecoms firm Bharti Airtel rose 1.8 percent after reporting quarterly results.
The 50-share NSE index was up 1.1 percent at 3,398.70.
On Tuesday, the 30-share BSE index snapped a three-day rise and fell 370.10 points to 11,001.75, its lowest close in almost a week.
The market will be shut on Thursday as Mumbai votes in national elections and for a holiday on Friday. Because of this, the monthly settlement of derivatives has been brought forward one day to Wednesday.
Asian markets were higher after two days of losses, with MSCI's measure of Asian markets excluding Japan rising 1.9 percent by 0352 GMT. Japan was closed for a holiday.
STOCKS TO WATCH
* Sterlite Industries (India) Ltd, after the metals firm's March quarter net profit fell 55 percent to 5.98 billion rupees, which still better than analysts' forecasts of 5.5 billion rupees.
* India Infoline Ltd, after the financial services provider posted a 64 percent fall in quarterly net profit to 115.8 million rupees.
* ING Vysya Bank, after the private sector lender's net profit for the quarter ended March rose 14.5 percent to 491.3 million rupees.
* Companies reporting results on Wednesday include – Bharti Airtel Ltd, Patni Computer Canara Bank, Dabur India, Apollo Tyres, Bank of India, Mahanagar Telephone Nigam, Sterling Biotech, 3M India, Alstom Projects, Videocon, Ceat, GVK Power, KEC International, Moser Baer, Alok Industries, Nagarjuna Fertilisers and Titan.
