New Delhi: The BSE Sensex gained over 171 points while the broader Nifty reclaimed the key 9,900-mark in mid-session trade Wednesday setting its sights firmly on the Reserve Bank of India's policy announcement later in the day.
Caution prevailed amid expectations that the central bank would keep rates unchanged. Risk-averse sentiment received a boost from a stronger rupee and higher Asian cues.
The BSE Sensex traded at 31,668.74, up 171.36 points, or 0.54 percent. The NSE Nifty hit 9,914.05, gaining 54.55 points, or 0.55 percent.
Major stocks that rose include Sun Pharma, PowerGrid, Dr Reddy's and RIL, jumping up to 3.47 percent.
Most Asian markets ruled higher. Markets in China, South Korea and Taiwan were closed for a holiday.
In the US, key indices on Wall Street closed at record levels yesterday driven by recovery in manufacturing and expectations of strong global growth.
Share outflow from foreign portfolio investors (FPIs) continued at net worth Rs 693.03 crore yesterday, showed provisional data from exchanges. Domestic institutional investors (DIIs) bought shares net Rs 1,552.41 crore.