The Indian markets have opened up this morning, albeit flat global cues. The Sensex has crossed the 18,000 mark in opening deals and is up 206 points or 1% at 18,054. Nifty is up 61 points at 5,477.
US stocks erased losses to end little changed on Tuesday. The Dow Jones industrial average gained 4.24 points, or 0.03 per cent, to 12,878.28. The Standard & Poor's 500 Index dropped 1.27 points, or 0.09 per cent, to 1,350.50.
Asian Markets consolidated on Wednesday as investors waited on Greece to demonstrate its commitment to deliver harsh reforms in exchange for a vital rescue deal. Japan's Nikkei opened up 0.6 per cent.
The BSE auto index is the biggest gainer in early trades and is up 3% at 10,295. Realty, capital goods, bankex and metal indices have moved up 1-2% each.
Tata Motors is the top contributor to the Sensex's upmove. The stock is up6.3% at Rs 285. ICICI Bank and Larsen & Toubro, together accounts for over 50 points rally in the Sensex.
DLF, Maruti Suzuki, Mahindra & Mahindra and Tata Power are some of the other top gainers.
Meanwhile, Reliance has slipped marginally to trade flat at Rs 848.
Among individual stocks, Unitech has advanced 4% on reporting 50 per cent drop in consolidated net profit for the third quarter ended December 2011.
A panel of ministers will meet on today to discuss selling shares in state-run ONGC and BHEL. ONGC is up 0.6% at Rs 278 while BHEL is trading up 1.7% at Rs 269.
Voltas has soared 12% to Rs 106 in spite of reporting a net loss of 115 crore rupees for the December quarter, as compared to a profit of 70 crore rupees in the previous corresponding period.
Berger Paints is up 1.5% at Rs 104 on reports that the company has forayed into the construction chemicals sector and has fixed a sales target of 25 crore rupees in the first year of operation.
