The key equity indices traded in the green on Wednesday morning with the BSE Sensex surging as high of 405 points.
The indices, however, have shed gains post the gap up opening.
Around 10 AM, Sensex was trading at 37,924.84, higher by 190.76 points or 0.51 per cent from the previous close of 37,734.08.
Initially, it surged 405 points to touch an intra-day high of 38,140.07.
The Nifty50 on the National Stock Exchange was trading at 11,210.35, higher by 56.70 points or 0.51 per cent from its previous close.
Shares of Reliance Industries on Wednesday surged nearly 3 per cent on the announcement that global investment firm KKR will invest Rs 5,550 crore into its subsidiary Reliance Retail Ventures Limited to pick up 1.28 per cent equity in the company.
Currently, RIL shares are trading at Rs 2,251.40, higher by Rs 40.25 or 1.82 per cent from its previous close. Its market capitalisation is around Rs 15.22 lakh crore.