BSE Sensex and Nifty gained some momentum in afternoon trade after struggling in most part of the session.
BSE Sensex was up 85 points to 28,422 while Nifty rose 21 points to 8,485. However gains were capped as investors remained cautious ahead of the expiry of November equity derivatives on Thursday. Also, the September-quarter GDP data is due on Friday.
The midcap and smallcap stocks today rebounded after suffering a selloff in the previous session. The BSE midcap and smallcap indices were up nearly 1 per cent.
Buying was seen in interest-sensitive auto, banking and realty stocks on rate cut hopes. The RBI's policy review is due on December 2. Also, buying was seen in domestic focused stocks.
DLF, up 4 per cent, was the biggest Nifty gainer. Among other Nifty gainers, Gail India, Asian Paints, BHEL and ACC were up over 2 per cent.
Shares in Zee Entertainment slumped over 4 per cent after MSCI inclusion-related buying ended, said traders. (With Agency Inputs)
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