Sensex gained 135 points to 20,987 as traders rolled over their short position in the future and option segment with the February contract expiring today. The capital market is closed on Thursday.
The benchmark index touched the psychological level of 21,000, but lost some gains at the fag end. It opened on a flattish note at 20,870 against the previous close of 20,852. It made a high of 21,005 and low of 20860 before closing 20,986.
The turnover on BSE was down at Rs 1,812 crore against Rs 1,847 crore recorded on Tuesday. Foreign institutional investors bought shares worth a net Rs 423 crore on Tuesday, as per provisional data from the stock exchanges.
On NSE, the Nifty was up 39 points at 6,239 on Wednesday.
Jayant Manglik, President-retail distribution, Religare Securities amid choppy trade, metal and realty counters were on sellers’ radar while buying in capital goods and FMCG counters helped index hold on to its gain.
"Continuing its gaining streak for fourth straight session, the benchmarks indices were inching higher on futures and option series expiry day and gained more than half a per cent in the end,” he added.
Market participants are now eyeing crucial data of fiscal deficit and GDP numbers, which is scheduled for release on Friday, he said.
IT shares continued to attract investors’ interest with Infosys and HCL Technologies scaling a record high. Polaris Financial Technology hit 52-week high on high volume after the company denied media reports that it is up for sale. The stock gained 14 per cent to Rs 165.
BHEL was up two per cent at Rs 162 after the company said it won a contract worth Rs 321 crore for setting up a 206 MW hydro electric project in Punjab. The company made the announcement during trading hours today.
Major gainers were JSW Energy (6%), Max India (5%), ABB India (4%), Dish TV India (4%), Siemens (4%) and GMR Infra (4%).
Prominent losers were NMDC (-4%), Reliance Cap (-4%), Tata Steel (-3%), Unitech (-3%), Godrej Cons (-3%), L&T Finance Holdings (-3%), Sun TV Network (-3%) and Sesa Sterlite (-3%).