A day after posting considerable losses, SP BSE Sensex opened 43 points higher on Wednesday at 35,329.60 points.

At the same time, NSE's benchmark index Nifty50 edged up by 24 points to trade at 10,734 level in the opening trade today.

At 9.44 am, Sensex trades at 35,354.75 points, 68 points, or 0.19 percent higher.

Nifty, at the same time, trades at 10,734 points, 24 points, or 0.22 percent higher.The SP BSE Sensex stocks that posted maximum gains in the early trade include Axis Bank (2 per cent), Vedanta (1.92 per cent) and Mahindra Mahindra (1.2 per cent).

The Sensex laggards include ITC (0.68 per cent), ONGC (0.7 per cent) and Wipro (0.88 per cent).

Among the Nifty 50 stocks, the major gainers in the morning trade are Cipla (2.5 per cent), Axis Bank (1.8 per cent) and Vedanta (0.8 per cent).

The Nifty laggards are ONGC (0.76 per cent), IOC (0.95 per cent) and UPL (1.45 per cent).The stocks that are in the news today include Idea Cellular, ICICI Bank and Cipla.

Idea Cellular is awaiting the nod from department of telecommunications (DoT) for its merger with telecom behemoth Vodafone India.

ICICI Bank stock is eyed because of the recent change in top leadership when lender's managing director (MD) and CEO Chanda Kochhar was sent on leave pending enquiry in a conflict of interest allegation.

Besides this, Rites IPO opens today for three days, and will close on June 22.

The price band of RITES IPO has been fixed between Rs 180 to Rs 185.

The IPO has been announced for a total of 2.52 crore shares.In the global markets, the ramifications of US-China trae war were visible.

China's stocks slumped on Wednesday, extending a rout from the previous day as the prospect of a full-blown Sino-U.S.

trade war put a dampener on the rest of Asian equities, even as they managed a modest bounce.MSCI's broadest index of Asia-Pacific shares outside Japan, rose 0.4 percent, though that came after a 2.1 percent fall on Tuesday.

Japan's Nikkei was up 0.1 percent after earlier falling into negative territory.

South Korea's KOSPI rose 1 percent.In China, the Shanghai Composite Index dropped 0.6 percent in choppy trade, a day after falling 3.8 percent to a two-year low.

Wednesday's fall came despite 30 listed firms announcing share purchase plans by major shareholders, and state media expressing confidence in the country's stock markets.On Tuesday, Sensex had closed 262 points down, while Nifty ended the day at 10,710 points.The gauge had lost 335.40 points in the previous two sessions, tracking a sell-off across global markets after the US and China reignited their trade dispute.

Domestic institutional investors (DIIs) bought shares worth a net Rs 653.686 crore while foreign portfolio investors (FPIs) sold equities to the tune of Rs 1,324.92 crore yesterday, as per provisional data."The market is recognizing India macro's growing stability, as evidenced by the 37 percent fall in the country's beta vs.

EM since December 2014 to a 13-year low.

The implications include the case for a positive surprise in equity returns for India (as expectations are now low, going by beta's level) with likely outperformance for India vs.

EM in a low-return world.

In addition, India's falling relative short rates, likely rising relative growth rates and a fall in FPI positioning to 2011 levels add to the outperformance case, in our view," said Morgan Stanley in a research report..The same report indicates the yield curve to signify the growth "The bond market is probably indicating that growth is back.

The yield curve is at post-2010 highs and correlates positively with stocks."(With Reuters and PTI inputs)