The market breadth turned positive as 1,390 stocks ended higher and 1,204 closed lower while 123 ruled steady.
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The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 9.80 points, or 0.13 percent up at 7,495.15 points.
The winning run for markets continued for the sixth straight session, with the BSE Sensex reversing all its losses to close about 135 points higher at 24,793.96 – a 5-week high – on continued expectations that RBI would bring down the policy rate.
Global factors will likely continue to influence domestic markets in the days ahead. “Nifty is hovering at the important resistance level and is seeking for next direction”, said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Service”.
“The slump in Chinese trade due to the sharp reduction in export data has created the volatility in the market”.
The 100-scrip and 200-scrip indices were up by 0.02 percent and 0.03 percent, respectively.
In Wednesday’s trade, good buying was observed in realty, power and auto sectors, while selling pressure was seen in metal sector. Realty stocks up on reform hopes: The BSE Realty index surged 1.51 per cent against a 0.55 per cent rise in the BSE Sensex on hopes that the Real Estate Bill will be passed in the ongoing session of Parliament.
Major gainers that supported the key indices were BHEL, Tata Steel, GAIL, ONGC, ITC, Cipla, Sun Pharma, Axis Bank, RIL, HDFC, M&M, Bajaj Auto, Tata Motors and L&T, rising by up to 2.98%.
In the rest of Asia, Hong Kong’s Hang Seng fell 0.94 per cent while Japan’s Nikkei plunged 1.63 per cent in early trade on Tuesday.
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The US Dow Jones Industrial Average, however, ended 0.40% higher in Tuesday’s trade.
