Sensex Up 113 Points As Banks Rally; Nifty Climbs Above 11,500

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Indian shares opened on a positive note Wednesday, with banks leading the surge after the RBI injected liquidity into the system via a successful forex swap auction.

The benchmark BSE Sensex was up 113 points or 0.30 percent at 38,346 in early trade, while the broader Nifty index was up 29 points or 0.25 percent at 11,512.

Financials paced the gainers, with Yes Bank, Indiabulls Housing Finance and IndusInd Bank climbing 2-4 percent.

MindTree dropped 1.4 percent after it decided not to proceed with a share buyback proposal.

Jet Airways jumped 3.8 percent. The cash-strapped airline expects to have an additional 40 planes in operation by April-end.

Reliance Industries was marginally lower after it acquired mid-segment menswear brand John Players from ITC.

BPCL and HPCL fell around 1 percent after U.S. crude oil futures moved briefly above $60 a barrel.

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