India's key indices -- Sensex and Nifty50 -- extended their gains from the previous day's closing and rallied in early trade on Wednesday, with the war atmosphere witnessing relative ease with recurrent ceasefires by Russia.

At 9.55 a.m., Sensex was 0.5 per cent or 251 points up at 53,674 points, whereas Nifty 0.4 per cent or 59 points up at 16,072 points. At 11 a.m., it was trading at 53,949.55 or 525.46 (0.98%) above and Nifty was trading at 16,144.65 or 131.20 (0.82%) above Tuesday's closure.

Sensex
IANS

Among the stocks, Tech Mahindra, Sun Pharma, Reliance Industries, Adani Ports, and Dr Reddy's were the top five gainers among the Nifty 50 companies, while Shree Cements, Asian Paints, Power Grid Corporation of India, Kotak Mahindra Bank, and Axis Bank were the top losers, NSE data showed.

Sensex, Nifty
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai.Reuters

"As long as the war lingers and crude remains at high levels a sustained rally is unlikely. High crude oil will impact India's GDP growth and corporate earnings growth for FY23," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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