Asian shares

Kotak Mahindra Bank gained by 2.8 per cent, HDFC Bank by 2.2 per cent and ICICI Bank by 1.2 per cent. Grasim, Adani Ports, Asian Paints and Bharat Petroleum Corporation too traded with a positive bias.

US GDP collapsed at a 32.9 per cent annualised rate in the second quarter, the deepest decline on record, while jobless claims rose last week.

However, Bharat Petroleum Corporation gained by 1.9 per cent while Tata Consultancy Services, Infosys and HCL Technologies were up by less than 1 per cent each.

At 10:15 am, the BSE S&P Sensex was down by 36 points or 0.1 per cent at 36,702 while the Nifty 50 edged lower by 8 points or 0.07 per cent at 10,806.

The other prominent gainers were UPL, ICICI Bank, NTPC, Britannia and HDFC. Among those in the red zone were Sun Pharma, Dr Reddy's, Tata Consultancy Services, Infosys, GAIL and Power Grid Corporation.

Mumbai (Maharashtra) : Equity benchmark indices edged higher during early hours on Wednesday on the back of gains in FMCG...

Meanwhile, Asian shares fell sharply after an overnight plunge at Wall Street amid concerns that a resurgence of coronavirus cases could stunt the pace of recovery in economies reopening from lockdowns.

Sectoral indices at the National Stock Exchange were mixed Nifty realty down by 1.6 per cent and financial service by 0.6 per cent. Nifty pharma moved up by 1.6 per cent and metal by 0.9 per cent.

All sectoral indices at the National Stock Exchange were in the positive zone with Nifty private bank up by 3.1 per cent, PSU bank by 2.6 per cent and financial service by 1.3 per cent.

Hong Kong's Hang Seng managed to rally 3.6 per cent while Chinese blue chips put on 2.2 per cent. That helped lift MSCI's broadest index of Asia Pacific shares outside Japan 2.1 per cent to its highest since early March.