Mumbai: It was completely lacklustre session for the Indian equity benchmarks on Wednesday due to lack of local and global cues. Wednesday's consolidation after nearly 600 points rally on the Sensex in previous three sessions indicated that the market seems still hopeful for some actions on reforms after cabinet reshuffle. Even the outcome of Federal Reserve's meeting and European Central Bank's meeting will also be closely watched by the market.
Indian shares closed higher for the fourth consecutive session today. The 30-share BSE Sensex rose 21.20 points to close at 17,257.38 and the 50-share NSE Nifty went up 11.50 points to 5,240.50.
However, the broader markets outperformed benchmarks; the BSE Midcap and Smallcap indices gained 1 per cent each as about two shares advanced for every share declining on the National Stock Exchange.
At 15:31 hours IST, France's CAC and Germany's DAX were off day's high on renewed doubts on the European Central Bank's scope for further measures to fight the region's debt crisis. Britain's FTSE went up 0.7 per cent while Spain and Italy markets declined 1 per cent. The Dow Jones futures gained 55 points ahead of policy decisions by US Federal Reserve.
Back home, drug producer Cipla was the top gainer among largecaps, rising 4.4 per cent after the company's net profit rose higher than expected 58 per cent year-on-year to Rs 401 crore in the first quarter of FY13. Sun Pharma and Dr Reddy's Labs gained more than 1 per cent.
Housing finance company HDFC and country's largest lender State Bank of India too rallied over 1 per cent while private sector lenders HDFC Bank and ICICI Bank were marginally down.
Major largecaps like Reliance Industries, ITC, Larsen & Toubro and HUL moved up 0.35 per cent-0.7 per cent. State-owned power equipment manufacturer BHEL surged 2 per cent.
Top commercial vehicle maker Tata Motors gained 0.6 per cent after its total sales for July jumped 15 per cent year-on-year to 74,159 units. Bajaj Auto went up 0.85 per cent ahead of sales numbers on Thursday.
Two-wheeler major Hero Motocorp tanked 1.7 per cent ahead of sales numbers for July that schedule to be announced today after market hours. Top car maker Maruti Suzuki went down 0.8 per cent after weak numbers on month-on-month basis.
Country's largest software services exporters TCS and Infosys were down 1 per cent and 0.4 per cent, respectively. Steel producers Sterlite Industries and Tata Steel fell 1 per cent each.
State-owned oil & gas producer ONGC dropped 2 per cent and top telecom operator Bharti Airtel was down 0.9 per cent.
Coal India, country's largest coal mining company, tumbled nearly 3 per cent after the company agreed to supply at least 80 per cent of the coal needed to fuel new power projects.