Indian benchmarks continued to trade in positive terrain during the noon trading session amid mixed global cues. Overseas, European stocks look set to open a tad lower on Thursday after a mixed day on Wall Street following the release of the Federal Reserve policy statement.
Asian markets were broadly higher as the Fed set no timeline for tapering stimulus and Chinese authorities moved to soothe jitters over anti-monopoly and data security enforcement against the tech industry.
On the corporate front, Hindalco, JSW Steel, Titan and HCL Technologies climbed 1-2 percent, while Tata Motors soared 3.2 percent on the price hike buzz.
Meanwhile, Crude oil prices moved higher on Wednesday, lifted by data showing a larger-than-expected drop in U.S. crude inventories last week. The data showing a bigger drop in stockpiles has raised optimism that supplies will remain tight despite the production hikes set by OPEC+.
At 12:23 hours, the 30-share benchmark index was trading at 52626.96 up by 183.25 points or by 0.35 % and then NSE Nifty was at 15787.55 up by 78.15 points or by 0.5 %.
The BSE Sensex touched intraday high of 52740.66 and intraday low of 52561.39 The NSE Nifty touched intraday high of 15801.8 and intraday low of 15737.8.
The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 1435.40,+5.15%), Bajaj Finserv Ltd. (Rs. 14390.05,+3.04%), HCL Technologies Ltd. (Rs. 1005.40,+2.32%), Sun Pharmaceutical Industries Ltd. (Rs. 702.00,+2.10%), Titan Company Ltd. (Rs. 1741.35,+1.20%), among others.
The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 7009.45,-1.97%), Power Grid Corporation of India Ltd. (Rs. 168.95,-1.20%), NTPC Ltd. (Rs. 115.65,-0.94%), Kotak Mahindra Bank Ltd. (Rs. 1637.65,-0.94%), Nestle India Ltd. (Rs. 17853.40,-0.88%), among others.
Among the sectors, Metal index was at 21023.55 up by 913.48 points or by 4.54%. Hindalco Industries Ltd. (Rs. 453.35,+8.97%), Vedanta Ltd. (Rs. 285.00,+5.54%), Tata Steel Ltd. (Rs. 1435.40,+5.15%), Jindal Steel & Power Ltd. (Rs. 437.45,+4.23%), Steel Authority of India (SAIL) Ltd. (Rs. 139.50,+4.10%),.
On the flip side, Power index was at 2613.57 down by -12.41 points or by -0.47%. Power Grid Corporation of India Ltd. (Rs. 168.95,-1.20%), Adani Green Energy Ltd. (Rs. 936.00,-1.12%), Bharat Heavy Electricals Ltd. (Rs. 59.70,-1.00%), NTPC Ltd. (Rs. 115.65,-0.94%), Adani Transmission Ltd. (Rs. 930.45,-0.86%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3356 , shares advanced were 2014 while 1199 shares declined and 143 were unchanged.