A bout of volatility was witnessed in early trade as the key indices reversed initial losses triggered by negative Asian stocks. At 9:24 IST, the barometer index, the S&P BSE Sensex, was up 29.55 points or 0.07% at 39,464.49. The Nifty 50 index was up 6.75 points or 0.06% at 11,803.20.

The S&P BSE Mid-Cap index was up 0.32%. The S&P BSE Small-Cap index was up 0.25%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 668 shares rose and 365 shares fell. A total of 45 shares were unchanged.

Overseas, most Asian stocks were trading lower on Wednesday after US Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

US stocks slid lower Tuesday after Federal Reserve Chairman Jerome Powell said the central banks was still monitoring the economy for signs of weakness and would seek to avoid a knee-jerk reaction in terms of cutting benchmark interest rates.

Fed Chair Jerome Powell noted the Fed will take a wait-and-see approach given how rapid recent economic changes have been. Powell on Tuesday also said the central bank is insulated from short-term political pressures, pushing back against US President Donald Trump's demand for a significant rate cut.

Meanwhile, investors looked toward developments on the US-China trade front, with presidents Donald Trump and Xi Jinping set to meet at the G-20 summit later this week. Investors are also watching the Middle East, with continuing tensions between the US and Iran. Iran said Trump's decision Monday to impose additional sanctions on Iran had closed the door to diplomatic negotiations.

Back home, NTPC gained 1.87%. NTPC had participated in the UPNEDA's tender for 500 MW Solar capacity with two bids of 20 MW each at Auraiya and Rihand. Reverse Auction was carried out on 25 June 2019 and NTPC has won entire 40 MW of Solar capacity bid by it at a levelised tariff of Rs 3.02/kWh applicable for 25 years. The projects shall be set up by NTPC under EPC mode and shall add to the installed capacity of NTPC. The announcement was made after market hours yesterday, 25 June 2019.

SpiceJet gained 2.8% after the company announced the launch of eight new non-stop international flights from the country's busiest metros of Mumbai and Delhi. SpiceJet will service Mumbai-Riyadh-Mumbai, Mumbai-Dhaka-Mumbai, Delhi-Dhaka-Delhi and Delhi-Jeddah-Delhi with daily non-stop flights. The announcement was made after market hours yesterday, 25 June 2019.

HealthCare Global Enterprises rose 2.52% to Rs 166.90. The company's board of directors approved the allotment of 7.10 lakh equity shares at Rs 285 per share on preferential basis, to Kunnathu Philipose Geevarghese. The announcement was made after market hours yesterday, 25 June 2019.

Dewan Housing Finance Corporation dropped 3.58% after the company said it has defaulted payment towards maturity on unsecured commercial paper dues to the tune of Rs 225 crore. The company said that the amount shall be paid over the next couple of days. The announcement was made after market hours yesterday, 25 June 2019.