Sensex up 160 points, Nifty near 11,450

Stock Market indices were trading higher on Wednesday, tracking gains Asian peers after they climbed to a seven-month peak. 

The banking index surged 0.7 percent while the pharma and auto sectors were up around half a percent each. 

BSE Sensex rose 162 points, or 0.42 per cent, at 38,690 levels and the Nifty50 index hovered around the 11,450-mark. 

SBI (up 2%) was the top Sensex gainer, followed by ICICI Bank and Larsen & Toubro (both up 1%). 

The stock markets have been on an upswing despite the rising Covid-19 cases as the economy has been opening up after government allowed relaxations from Covid-19-induced lockdowns. The Sensex and Nifty are currently trading at new 5-month highs.

(With inputs from agencies)