The benchmark Sensex closed 11 points higher on the Bombay Stock Exchange on Wednesday on the back of selective buying by funds in metal and fast moving consumer goods sector stocks.
The 30-share index, which had been in the positive zone in the past four sessions and gathered over 720 points, gained 11.80 points to close at 13,189.54. It moved between 13,236.20 and 13,075.48 points during the session on alternate bouts of buying and selling in index-related stocks.
Similarly, the wide-based National Stock Exchange's index Nifty also inched up by 4.65 points at 3,848.15, after touching the session's high of 3,858.35 and a low of 3,819.30.
Market observers said metal sector, particularly steel stocks remained centre of brisk activity on hopes that leading companies might announce a hike in their product prices.
They said firming trend in base metals in the global markets too influenced the trading sentiments here. Reflecting the firmness in metal stocks, the BSE Metal index climbed 95 points, or 1.07 per cent to close at 9,000.01.
Tata Steel stocks rose by Rs 2.25 at Rs 495.55, Jindal Steel and Power by Rs 55.35 at Rs 2483.50, JSW Steel by Rs 24.15 at Rs 533.10, Jindal Saw by Rs 8 at Rs 485, Jindal Stainless by Rs 3.35 at Rs 127.50, Sesa Goa by Rs 40.75 at Rs 1756.50, Sterlite Industries by Rs 8.50 at Rs 479.10 and Hindustan Zinc by Rs 12.25 at Rs 679.95.