Mumbai: Indian equities gained strength in the last hour of trade on Wednesday despite listless trade in global peers. The NSE Nifty closed above the 5600 level for the first time in last four sessions after seeing the consolidation with a negative bias since last week. The index rose 43.25 points to close at 5,614.80.
Meanwhile, the 30-share BSE Sensex gained 131.06 points to end at 18,460.38 on hopes that winter session of Parliament, which will begin on Thursday, would go through smoothly. The BSE Bankex rose 1.27 per cent on hopes that banking bill will get passed in the winter session. Country's largest private sector lenders ICICI Bank and HDFC Bank gained 2 per cent and 1.5 per cent, respectively on build up of long positions ahead of the event. However, their rival State Bank of India was down 0.25 per cent.
Healthcare firms gained ahead of decision on national pharma pricing policy in the Wednesday's cabinet meeting. Sun Pharma jumped 2.6 per cent and Ranbaxy Labs gained 1 per cent. Cipla rallied 2.4 per cent as the company is in "preliminary discussions" to acquire about 51 per cent stake in Cipla Medpro South Africa for 8.55 rand per share.
Cigarette major ITC, private power producer Tata Power and steel producer Jindal Steel spiked 2 per cent each. Software exporter major Infosys and engineering conglomerate Larsen & Toubro gained nearly 1 per cent. Shares of Reliance Industries, TCS and HUL were up 0.6-0.8 per cent.
India's largest power producer NTPC plunged 3.5 per cent and state-controlled power equipment maker BHEL was down 2.7 per cent. Reliance Communications bounced back quite sharply, rising 4.5 per cent after losing nearly 6 per cent on Tuesday.
In the second line shares, DB Realty shot up 9.5 per cent despite the company denied report of likely sale of hotel properties. Aviation stocks remained on buyers' radar. SpiceJet rose 7 per cent on stake sale buzz . Jet Airways moved up 9 per cent while Kingfisher was up 2 per cent.
L&T Finance Holdings gained 3.3 per cent, bouncing back after profit booking in previous two sessions. About 1462 shares advanced while 1326 shares declined on the Bombay Stock Exchange. On the global front, European markets were flat at the time of closing of Indian equities. Asian markets extended gains in late trade; Shanghai and Hang Seng closed higher with more than 1 per cent gains while Nikkei went up 0.9 per cent.
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