After a 170-point rally on Tuesday, benchmark indices opened flat on Wednesday morning. The BSE Sensex was trading 47.65 points higher at 20,681.88 points, while the NSE Nifty was trading 13.15 points higher at 6,140.25 points at 12.00pm IST.
Shares of Ranbaxy were up after New York's attorney general said it plans to announce a settlement with US units of Ranbaxy and Teva. Shares of Sun Pharma Advanced Research Company gained on the news that Sun Pharma had received USFSA approval to sell a drug to treat Osteoporosis, a bone-weakening disease.
Ranbaxy and Teva will pay New York $300,000 for unlawfully restricting competition.
Among sectoral indices, the BSE Capital Goods (0.53%), BSE IT (0.64%) and BSE Consumer Durables (1.31%) were trading in the green.
Among key Asian indices, the Shanghai Composite (0.94%), Jakarta Composite (0.41%) and Straits Times (0.52%) were the major gainers.