Asian Paints, Yes Bank, SBI, HPCL and Maruti Suzuki are among top gainers on key indices. Here are the latest updates from the markets

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 opened higher on Wednesday, extending their winning streak to the seventh day, amid mixed global cues ahead of the outcome of the US Fed monetary policy meeting. The rupee and bond prices extended gains after crude oil prices slumped to near 16-month low, and after another open market operation announced by the Reserve Bank of India. The Reserve Bank of India decision decided on Tuesday to increase the amount of liquidity infusion by Rs 10,000 crore to Rs 50,000 crore in December is likely to support the markets today. The RBI has already injected Rs 20,000 crore through two OMO purchase auctions. Stocks in Japan, China and Australia sank, while equities in Hong Kong were little changed. Oil prices slumped over 5% on Tuesday in heavy trade due to fears of oversupply and deteriorating demand.

9.50 am IST
J Kumar Infra shares jump 10% on new order
Shares of J Kumar Infraprojects Ltd rose as much as 10.47% to Rs 151.85 after its joint venture received EPC orders worth Rs 1,349 crore from National Highways Authority of India for Delhi.

9.32 am IST
RCom shares slump 13% as DoT rejects trade airwaves deal
Shares of Reliance Communications Ltd fell as much as 12.7% to Rs 13.77 per share after ET reported that the telecom department told RCom and Reliance Jio Infocomm on Tuesday that it can’t approve their deal to trade airwaves as it does not conform to its guidelines, dealing a big blow to the Anil Ambani-owned telco’s efforts to repay creditors and avoid insolvency proceedings.

9.22 am IST
HPCL, BPCL, IOC shares up around 2%
Shares of oil marketing companies were trading higher after crude oil prices plunged over 7% to hit a 16-month low. HPCL shares rose 2%, BPCL shares gained 1.7% and Indian Oil Corp shares advanced 1.7%.

source: livemint.com