Sensex, Nifty edge up in choppy trade amid caution ahead of US inflation data

Benchmark equity indices Sensex and Nifty closed higher in choppy trade on Wednesday as investors awaited key US inflation data for further cues.

The 30-share BSE Sensex rose by 16.09 points or 0.02 per cent to close at 81,526.14.

Snapping its three-day losing run, the broader NSE Nifty advanced 31.75 points or 0.13 per cent to settle at 24,641.80.

From the 30-share Sensex pack, Bajaj Finance, Nestle India, Bajaj Finserv, Asian Paints, UltraTech Cement, Infosys, Maruti, Bharti Airtel and Hindustan Unilever were among the gainers.

JSW Steel, Adani Ports, NTPC, State Bank of India, Reliance Industries, Tech Mahindra, Axis Bank, Titan and HDFC Bank were the laggards.

“The Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the Fed policy,” Vinod Nair, Head of Research, Geojit Financial Services, said.

In Asian markets, Tokyo, Shanghai and Seoul closed higher, while Hong Kong settled in the negative territory.

European markets were trading on a mixed note. The US markets closed in the red on Tuesday.

Global oil benchmark Brent crude rose 0.98 per cent to USD 72.90 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,285.96 crore on Tuesday, according to exchange data.

On Tuesday, the 30-share BSE Sensex edged up 1.59 points to close at 81,510.05. Falling for the third day, the NSE Nifty dropped by 8.95 points to settle at 24,610.05.