Indian equity benchmark indices opened higher on Wednesday led by gains in auto and metal stocks amid positive global cues.

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At 9:15 am, the Sensex opened 0.67 percent, or 310.14 points, higher at 46,573.31, while the Nifty50 index opened at 13,663.10, up 95.25 points, or 0.70 percent.

Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices supported the rally with rising more than 0.75 percent each.

Among sectoral indices, the Nifty Auto and Nifty Metal saw the most gains, trading over 1 percent higher followed by Nify FMCG, Nifty IT and Nifty Realty.

Mahindra & Mahindra, ONGC, Bajaj Finance, Tata Motors and UPL were the Nifty50 top gainers, while HCL Technologies, ICICI Bank, Dr Reddy's Laboratories and Bharti Airtel were the only losers.

Mahindra & Mahindra shares gained over 2 percent after the company announced that it will increase the price of its passenger and commercial vehicles, across models.

Meanwhile, in Asia, stocks rose on Wednesday as hopes of effective coronavirus vaccines and the growing prospect of more US fiscal stimulus cheered investors ahead of the Christmas holiday season. MSCI's broadest index of Asia Pacific shares outside of Japan added 0.6% after two straight days of losses.

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