Indian equity markets opened gap-up mirroring SGX Nifty and other Asian markets, which were trading in the positive zone with gains in the range of 0.2% to 3.0%. Midcaps too picked up momentum after the savage correction on Tuesday, with investors taking a shine on sugar stocks.
At 09.26 AM, the BSE benchmark Sensex was up 51.97 points at 19711.79, and the 50-share Nifty had gained 14.45 points to trade at 5971.35.

HDFC, Tata Steel, Maruti Suzuki and Sun Pharma were the top notchers on the Sensex. Heavyweights ITC, Reliance, Infosys and Larsen were contributing positively to the bourses. NTPC fell in the morning trade after the announcement that the government will sell 9.5 percent stake in country's largest power producer at a likely price of Rs 145 per share, nearly seven per cent discount to the current market price.

In general, buyers picked up beaten-down midcaps like Jubilant Foodworks and Sundram Fasteners; which were up 6 percent each.

However, sugar space is likely to become the flavour of the day as partial decontrol for the sector is expected. On Tuesday, the government took initial steps to free the sector from its control. Buying was seen in sugar stocks like Balrampur Chini (up 3.7 percent), Sree Renuka (up 3 percent), Sakthi Sugar (4.1 percent), Triveni Engineering (3 percent) and Bajaj Hindusthan (3.72 percent).