Stock Market: Sensex Rises 179 Points, Nifty Closes Above 18,300. Auto, Realty Stocks Lead

Stock update: On the 30-share Sensex platform, IndusInd Bank, PowerGrid, Bajaj Finance, Tata Motors, Reliance Industries, HDFC Bank, Maruti Suzuki, and Bajaj Finserv were among the winners

In the broader market, the BSE Midcap and Smallcap indices performed in-line with the frontline indices by rising 0.3 per cent each.

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After oscillating between gains and losses throughout the day, the two key equity benchmarks, Sensex and Nifty, on Wednesday picked up pace in the fag-end and closed in the green, tracking tepid global cues.

The S&P BSE Sensex closed 179 points higher to 61,940. On the Nifty50 shut shop at 18,315, up 49 points.

On the 30-share Sensex platform, IndusInd Bank, PowerGrid, Bajaj Finance, Tata Motors, Reliance Industries, HDFC Bank, Maruti Suzuki, and Bajaj Finserv were among the winners. On the flip side, Infosys, Sun Pharma, Tata Steel, L&T, SBI, TechM emerged losers.

In the broader market, the BSE Midcap and Smallcap indices performed in-line with the frontline indices by rising 0.3 per cent each.

Sectorwise, the Nifty PSU Bank index extended its losing run into third day by falling over 1 per cent. The Nifty Auto and Realty indices, on the otherhand, added 0.7 per cent each.

In the previous session on Tuesday, the BSE Sensex closed at 61,761, down 3 points. On the other hand, the NSE Nifty settled at 18,266, up 1.5 per cent.

Markets consolidated for yet another session and it was a muted session on the sectoral front also, Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said, adding that selective buying in realty, energy and auto kept the traders busy.

"US inflation data for April will be keenly focused as this would provide some indication about the Fed's next course of action on the rate front," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

In Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong ended lower following overnight losses in the US markets. European equity markets were also trading lower.

Global oil benchmark Brent crude declined 1.39 per cent to $76.36 per barrel.

Foreign Institutional Investors (FIIs) were net buyers on Tuesday as they bought equities worth Rs 1,942.19 crore, according to exchange data.

Meanwhile, the rupee consolidated in a narrow range and settled for the day higher by 6 paise at 82.00 (provisional) against the US dollar on Wednesday, as investors remained on the sidelines ahead of the crucial US inflation data.

Forex traders said significant foreign fund inflows, a firm trend in domestic equities and easing crude oil prices also supported the local unit.

At the interbank foreign exchange market, the local unit opened at 82.06 against the US currency and finally closed at 82.00 (provisional), registering a gain of 6 paise over its previous close.

During the session, the rupee touched a high of 81.96 and a low of 82.09 against the dollar. O Tuesday, the rupee closed at 82.06 against the US currency.