Extending gains for the fifth consecutive session, key Indian equity indices on Wednesday closed in the positive territory as positive Asian cues and higher auto stocks buoyed investors' sentiments.
However, profit booking in metals and healthcare sectors, along with an outflow of foreign funds, capped gains.
According to market observers, index heavyweights on the BSE like State Bank of India (SBI), Adani Ports, HDFC, Maruti Suzuki and Asian Paints drove the upward rally of the indices.
On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) edged higher by 15.40 points or 0.15 per cent to 10,342.30 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,561.55 points -- up 83.20 points or 0.25 per cent -- from Tuesday's close.
In contrast, the BSE market breadth was bearish -- 1,423 declines and 1,284 advances.
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"Markets ended with marginal gains on Wednesday. A sell-off from the highs in the afternoon session curbed the gains. It was nevertheless the fifth consecutive session of gains for the Nifty," Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.
"Positive global cues supported the Indian indices. Major Asian markets ended on a positive note," Jasani said.
In terms of the broader markets, the BSE mid-cap closed lower by 0.05 per cent, while the small-cap index was up 0.23 per cent.
According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, lacklustre trade was seen on Wednesday as Indian indices traded from flat-to-nothing throughout the day.
"Stock-specific movements were seen across many sectors during the day," Desai told IANS.
"Moody's upgraded the Indian Oil companies, real estate, auto and auto suppliers, and IT services to stable outlook. PSU banks rose with SBI, PNB (Punjab National Bank), and OBC (Oriental Bank of Commerce) taking the lead," he added.
Sector-wise, the S&P BSE auto index rose by 75.97 points, followed by capital goods index by 18.82 points and industrials index by 17.28 points.
On the other hand, the S&P BSE metals index fell by 95.20 points, healthcare index by 73.43 points and consumer durables index by 54.23 points.
Vinod Nair, Head of Research, Geojit Financial Services, said: "Market found difficulty in holding the opening positive momentum due to concern over rising oil prices adding inflationary pressure."
"Consolidation in US dollar ahead of today's (Wednesday) FOMC (Federal Open Market Committee) minutes provided some liquidity in the domestic market while a Fed rate hike in December is already in the price," added Nair.
On the currency front, the rupee weakened by 2-3 paise to 64.91-92 against the US dollar from its previous close at 64.89.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 441.46 crore, while domestic institutional investors purchased scrips worth Rs 837.22 crore.
Major Sensex gainers on Wednesday were: Adani Ports, up 3.27 per cent at Rs 414.30; HDFC, up 1.53 per cent at Rs 1,718.30; SBI, up 1.35 per cent at Rs 335.20; Asian Paints, up 1.27 per cent at Rs 1,176.10; and Maruti Suzuki, up 1.08 per cent at Rs 8,514.30.
Major Sensex losers were: Dr. Reddy's Lab, down 1.23 per cent at Rs 2,361.35; Axis Bank, down 1.23 per cent at Rs 540; Lupin, down 1.15 per cent at Rs 828.05; Bharti Airtel, down 0.88 per cent at Rs 498.70; and NTPC, down 0.74 per cent at Rs 181.70.
--IANS
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