Research Icon - Markets open higher; media stocks drag

Indian benchmark indices made a positive start on Wednesday with the Nifty above 12,200. The Sensex rose 185 points at 41,509.

Sectorally, all indices except Nifty Media traded in the green.

Shares of Zee Entertainment fell 1% after the company reported a 38% yoy fall in net profit for Q3FY20.

Yes Bank, Eicher Motors, SBI, Wipro, and Bharti Airtel are among the top gainers on the indices, while losers include Zee Entertainment, ONGC, Asian Paints, Coal India, ONGC, and NTPC. 

With the result season catching momentum, several key corporates will release their results today including Larsen & Toubro, Axis Bank, Asian Paints, SBI Life Insurance, RBL Bank, Agro Tech Foods, KPR Mill, Motilal Oswal Financial Services, AU Small Finance Bank, Ujjivan Small Finance Bank, and CreditAccess Grameen.

The Indian rupee opened higher by 8 paise at 71.13/$.

Meanwhile, Asian markets remained unchanged, with the Shanghai Composite falling 1% owing to the virus scare. Further, US indices closed with losses on account of the same. 

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