Mumbai March 21 (IANS) Broadly positive Asian markets along with value buying pushed the key Indian equity indices higher on Wednesday.
However some gains were ceded as caution prevailed ahead of the US Federal Reserve s FOMC (Federal Open Market Committee) meet which is slated to begin later in the evening.
According to market observers healthy buying was witnessed in capital goods banking and oil and gas stocks.
Consequently the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed the day s trade at 33 136.18 points up by 139.42 points or 0.42 per cent from its previous close of 32 996.76 points.
Similarly the wider Nifty50 of the National Stock Exchange (NSE) edged higher during the day s trade. It gained 30.90 points or 0.31 per cent to 10 155.25 points.
"Markets rallied further on Wednesday after the bounce back seen on Tuesday. A sell-off from the highs curbed the gains " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Major Asian markets have closed on a mixed note. European indices like FTSE
100 and CAC 40 are trading in the red."
Vinod Nair Head of Research at Geojit Financial Services said: "Market reversed from opening gain as investors utilised the initial rally to book profit and stay cautious ahead of (US) Fed policy."
"Additionally participants are keen to get cues on future rate hike trajectory while hawkish pace of tightening might add volatility in the market. If the outcome of FOMC will be in-line with expectation without any underlining caveats we could have a relief rally in the short-term."
On the currency front the Indian rupee closed flat at 65.21 against the US dollar from its previous close at 65.20.
In terms of investments provisional data with the exchanges showed that foreign institutional investors purchased scrips worth Rs 98.44 crore and domestic institutional investors worth Rs 197.78 crore.
Sector-wise the S&P BSE capital goods index surged by 103.50 points followed by banking index by 61.81 points and oil and gas index by 47.26 points.
On the other hand the S&P BSE metal index declined by 72.73 points healthcare index by 62.30 points and automobile index by 28.38 points.
Major Sensex gainers on Wednesday were: Bharti Airtel up 4.61 per cent at Rs 418.60; NTPC up 2.47 per cent at Rs 170.20; Larsen and Toubro up 1.14 per cent at Rs 1 308.40; HDFC up 1.05 per cent at Rs 1 818.85; and HDFC Bank up 1 per cent at Rs 1 857.65.
The Sensex losers were: Tata Steel down 1.85 per cent at Rs 582.35; Tata Motors down 1.58 per cent at Rs 333.90; Adani Ports down 1.44 per cent at Rs 363.90; Hero MotoCorp down 1.25 per cent at Rs 3 469.35; and Sun Pharma down 0.82 per cent at Rs 504.70.
--IANS
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