National Stock Exchange"s Nifty ended at 2803.05, up 19.15 points or 0.69 per cent. The broader index hit an intra-day high of 2842.20 and low of 2780.70.
Bombay Stock Exchange"s Sensex closed at 9201.85 up 52.55 points or 0.57 per cent. The index touched an intra-day high of 9338.21 and low of 9164.16.
BSE Midcap Index was down 0.45 per cent and BSE Smallcap Index ended flat.
Tata Steel (5.15 per cent), Zee Entertainment (5.01 per cent), DLF (4.97 per cent), Sterlite Industries (4.63 per cent) and SAIL (3.87 per cent) were the biggest Nifty gainers.
Market pares gains; M&M, Ranbaxy drag
The market lost steam in afternoon trade as traders booked profits. Consumer durables and healthcare stocks edged lower. But metals kept up the good work. Realty and energy stocks also posted decent gains.
At 2:35 pm, Bombay Stock Exchange's Sensex was at 9,181.73 up 32.43 points or 0.37 per cent. The index touched an intra-day high of 9338.21 and low of 9,181.02.
National Stock Exchange's Nifty was at 2795.15, up 11.25 points or 0.4 per cent. The broader index hit an intra-day high of 2842.20 and low of 2780.70.
BSE Smallcap Index was up a mere 0.53 per cent at 3,291.45 after a run-up to 3,314.92. BSE Midcap Index was up 0.05 per cent at 2,874.97.
Biggest Sensex gainers were Sterlite Industries (5.4 per cent), Jaiprakash Associates (5.28 per cent), DLF (4.51 per cent), Tata Steel (4.45 per cent) and Reliance Industries (3.73 per cent).
Mahindra & Mahindra (-1.62 per cent), Ranbaxy Laboratories (-1.53 per cent), Hindalco Industries (-0.78 per cent), NTPC (-0.68 per cent) and ITC (-0.61 per cent) were the losers.
Sensex tests 9300; metals, realty lead
Equities held on to early morning gains Wednesday as traders took positions in beaten down sectors like realty and banks at lower levels. Shares of metal companies were in demand following a rally in commodities in Asian markets on hopes that commodities may have bottomed out.
“Fundamentally speaking technology stocks look cheap, while banking and telecom prospects are deteriorating in the medium term. Global investors await interest rate decisions by the Bank of England and the European Central Bank on Thursday and ahead of the key U.S. employment report on Friday. For the day, 1 per cent gap up and near 2 per cent rise on the indices will keep us in sync with our Asian brethren," said Anagram Stock Broking note.
At 10:30 am Bombay Stock Exchange"s Sensex was at 9265.22, up 115.92 points or 1.27 per cent. The index touched a high of 9306.04 and low of 9226.20.
National Stock Exchange"s Nifty was at 2824.60, up 40.70 points or 1.46 per cent. The broader index hit an intra-day high of 2831.65 and low of 2780.70.
Stocks extend gains; metals lead
Indian stocks opened higher on Wednesday, Feb 4 in line with Asian peers. Bombay Stock Exchange"s 30-share Sensex rose 128 points or 1.41 per cent to 9277. National Stock Exchange"s benchmark Nifty climbed 38.85 points to 2821.90 from its previous close.
“We believe that the market will open up and rally but we continue to believe that every rise should be an opportunity to sell into the market as situation continues to remain serious. For the day, we are positive," said Religare Research in a note.
US stocks rose on Tuesday, Feb 3 as news of an alternative stimulus plan from Senate Republicans suggested lawmakers were moving closer to a package that would soften the blow of a deepening recession.
The Dow Jones Industrial Average was up 141.53 points, or 1.78 per cent, to 8,078.36. The Standard & Poor's 500 Index rose 13.07 points, or 1.58 per cent, to 838.51. The Nasdaq Composite Index climbed 21.87 points, or 1.46 per cent, to 1,516.30.&13;
OneIndia News (With inputs from Agencies)