Equity Research Lab: - Sensex, Nifty steady; Sun Pharma, L&T, Maruti laggards

The Sensex is up 110.10 points or 0.4 percent at 27416.93 and the Nifty gains 23.45 points or 0.3 percent at 8285.10. About 1313 shares have advanced, 808 shares declined, and 125 shares are unchanged. 

Bharti Airtel, Vedanta, Hindalco, Reliance and ONGC are top gainers while Dr Reddy's Labs, Sun Pharma, L&T, Maruti and GAIL. 

Oil prices fell after data from an industry group showed a larger-than-expected build in US crude inventories last week, fanning worries over global oversupply, even as a slightly weaker dollar provided some support. 

Industry data showed US commercial crude stocks climbed by a larger-than-expected 7.1 million barrels to 473 million barrels in the week to Oct. 16, the American Petroleum Institute said on Tuesday. Analysts had expected a 3.9 million barrels increase. 

The US Energy Information Administration is due to release official inventory data later on Wednesday, which is expected to show a build in crude stocks for a fourth straight week.

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