Indian benchmark indices extended gains in the afternoon session on Wednesday amid steady global markets, and ahead of the Reserve Bank of India’s (RBI) monetary policy decision tomorrow.

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At 12:40 pm, the Sensex was trading at 40,918.64, up 129.26 points or 0.32 percent and the Nifty was trading at 12,022.05, up 42.40 points or 0.35 percent.

Among sectors, gains in Nifty Realty, Nifty Metals, Nifty FMCG and Nifty Bank helped Nifty reclaim 12,000 level. Nifty Media and Nifty IT were the only to trade in the red.

Broader markets outperformed benchmarks as Nifty Midcap100 gained 0.91 percent while Nifty Smallcap100 added 0.70 percent.

YES Bank, Tata Motors, Bharat Petroleum Corporation Ltd, UPL and Bharti Infratel led gains among Nifty constituents while Zee Entertainment Enterprises, HeroMoto Corp, Dr Reddy's Laboratories, Adani Ports & SEZ and Maruti Suzuki were the top losers.

The share price of Bharat Wire Ropes hit the upper circuit after Raamdeo Agrawal, the co-founder of Motilal Oswal Financial Services, bought 9,42,109 shares of the company through a bulk deal on NSE on February 4, data available with the exchange showed. The transaction was carried out at an average price of Rs 26.25 per share, taking the total value of the purchase to nearly Rs 2.47 crore.

Tata Global Beverages share price rallied over 7 percent intraday after the company reported healthy third-quarter earnings. The joint venture business of Tata Starbucks recorded consolidated net profit growth of 24.76 percent year-on-year (YoY) at Rs 135.85 crore, aided by higher sales and lower tax rate.

The stock price of Granules India surged over 6 percent intraday after US Food and Drug Administration approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly-owned foreign subsidiary of Granules India Limited for Valganciclovir Hydrochloride for Oral Solution, 50 mg/mL.

Globally, Asian stocks steadied on Wednesday as Chinese shares moved higher on hopes of additional stimulus to cushion the economic blow from a coronavirus outbreak, but risks remain as the illness continued to spread and the death toll neared 500.

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