Sensex, Nifty rise on gains in metal, commodity stocks

Rising for the third straight session, equity benchmark indices recovered early losses to end in positive territory, supported by buying in metal, commodity and energy stocks amid encouraging WPI inflation data.

Rising for the third straight session, equity benchmark indices recovered early losses to end in positive territory on June 14, supported by buying in metal, commodity and energy stocks amid encouraging WPI inflation data.

Cautious trading, however, prevailed in the market as investors preferred to stay on the sidelines ahead of the announcement of the U.S. Fed interest rate decision later in the day.

The 30-share BSE Sensex climbed 85.35 points or 0.14% to settle at 63,228.51. During the day, it hit a high of 63,274.03 and a low of 63,013.51.

The NSE Nifty advanced 39.75 points or 0.21% to end at 18,755.90.

Tata Steel was the biggest gainer in the Sensex chart, rising 2.39%, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints.

In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.

The wholesale price-based inflation rate fell to a 3-year low of (-) 3.48% in May on easing prices of food, fuel and manufactured items, strengthening the case for continuing with the pause in a rate hike in the coming months of the current fiscal.