All NSE sectoral indices were trading higher except Nifty FMCG which was dragged by Tata Consumer Products. Nifty media led the gains, rising over 1 percent.
The development is likely to benefit Sudarshan Chemicals, which is the third largest pigments player in the world and one of the biggest competitors of Heubach Colorants India, said Centrum Broking
Going by expectations of high volatility, analysts suggest investors to use any rise as an opportunity to go short and refrain from turning aggressive with their bets.