Mumbai: Stock market benchmark indices Sensex and Nifty settled in the positive territory on Wednesday, tracking a rally in global peers, amid hopes of a rate cut by the US Federal Reserve and fresh foreign fund inflows.
The 30-share BSE Sensex climbed 368.97 points or 0.44 per cent to settle at 84,997.13. During the day, it jumped 477.67 points or 0.56 per cent to 85,105.83.
A total of 2,482 stocks advanced, while 1,668 declined and 175 remained unchanged on the BSE.
The 50-share NSE Nifty went up by 117.70 points or 0.45 per cent to 26,053.90.
“Markets edged higher on Wednesday, gaining nearly half a per cent amid upbeat global cues. Investor sentiment remained supported by expectations of a potential US Federal Reserve rate cut and encouraging updates on possible trade deals,” Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
From the Sensex firms, Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent and Asian Paints were among the major gainers.
However, Bharat Electronics, Eternal, Mahindra & Mahindra and Maruti were among the laggards.
The BSE midcap gauge climbed 0.68 per cent and smallcap index went up by 0.56 per cent.
Sectorally, power index jumped 2.72 per cent, utilities (2.61 per cent), oil & gas (2.55 per cent), metal (1.68 per cent), energy (1.51 per cent), services (1.33 per cent), commodities (1.16 per cent) and capital goods (1.01 per cent).
In contrast, auto emerged as the only laggard.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled higher.
Markets in Europe were trading mostly higher. US markets ended in positive territory on Tuesday.
FIIs bought equities worth Rs 10,339.80 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.23 per cent to USD 64.55 a barrel.
On Tuesday, the Sensex declined 150.68 points or 0.18 per cent to settle at 84,628.16. The Nifty dipped 29.85 points or 0.11 per cent to 25,936.20.