NIFTY50 and SENSEX trade in green; M&M, Bharti Airtel and Adani Ports are among the top gainers

Indian equity benchmarks pared some gains in the mid-market session, with both SENSEX and NIFTY50 trading marginally higher, impacted due to negative cues from other Asian markets along with selling at Metal, Realty and Oil & Gas counters. Market participants got cautious amid a private report stating that the Reserve Banks of India's Monetary Policy Committee (MPC) may deliver interest rate cuts in a measured way and raise liquidity, but it is unlikely to shift its monetary stance from neutral to accommodative as it weighs the implications of the global trade war on financial markets.

On the global front, Asian markets were trading lower, even after the Bank of Korea reduced its benchmark rate by a quarter-point on Tuesday. Domestic political unrest and the US government's trade policies weighed on domestic demand and economic growth. The monetary policy board, governed by Rhee Chang Yong, decided to lower the Base Rate by 25 basis points to 2.75 per cent.

The SENSEX traded at 74605.82, up by 151.41 points or 0.20% after trading in a range of 74400.37 and 74785.08. There were 18 stocks advancing against 12 stocks declining on the index.

The NIFTY50 traded at 22557.60, up by 4.25 points or 0.02% after trading in a range of 22516.45 and 22625.30. The index had 24 advancing stocks and 26 declining stocks.

All Asian markets were trading lower; Hang Seng declined 259.86 points or 1.11% to 23,081.75; Jakarta Composite plunged 158.16 points or 2.4% to 6,591.44, Shanghai Composite weakened 17.34 points or 0.51% to 3,355.69, Straits Times fell 2.56 points or 0.07% to 3,925.19, KOSPI dropped 12.76 points or 0.48% to 2,632.51, Nikkei 225 slipped 506.98 points or 1.31% to 38,269.96 and Taiwan Weighted lost 279.59 points or 1.2% to 23,285.72.