Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
Marketmen said the persistent fall in gold prices to increased selling by selling after the Reserve Bank eased curbs on import of the yellow metal, allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
Marketmen said emergence of low level buying by stockists and retailers for the wedding season amid a firm global trend mainly helped gold prices to rebound.
They have returned 62 per cent this year.
Analysts said retail investors are major participants in mid-cap and small-cap stocks and activity in this segment has increased over the past few months.
Defying an overall sluggish market sentiment, IT stocks on Wednesday rose by up to 4 per cent amid the rupee sinking to a life low of 68.75 against the dollar.
After gaining Rs 75 in the previous session, the precious metal advanced further, driven by a firming trend in overseas markets as US economic data signalled the Federal Reserve may continue its asset purchase program to support the recovery.
Foreign investors have poured in a whopping Rs 9,600 crore (Rs 96 billion) in the stock market so far this month, mainly on the hopes of a stable government in general elections starting next month.
Eye business expansion, fulfil working capital requirements and making loan repayments
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
While gold fell by Rs 400 to Rs 28,000 per 10 grams, silver plunged by Rs 1,500 to Rs 43,100 per kg on poor offtake.
Fourth quarter earnings of blue-chips such as Infosys, TCS, Wipro, RIL and inflation data for March will dictate the trend on the bourses in a holiday-shortened week ahead, experts said.
On the macro front, market participants will closely watch the FY'15 fiscal deficit target
The RBI Governor brought down retail inflation to 3.8% in July.
In contrast, investors' wealth had surged by over Rs 1 lakh crore (Rs 1 trillion) to Rs 70,44,431 crore (Rs 70,444.31 billion) in 2013.
At present, seven companies are planning to raise Rs 2,965 crore (Rs 29.65 billion) and have Sebi's approval. Another 12 firms, intending to mop-up Rs 5,362 crore (Rs 53.62 billion), have filed draft documents with the capital market watchdog and are awaiting approval, Prime Database managing director Pranav Haldea said.
Brokers hope of a stable government after elections and signs of economy returning to growth path.
The market benchmark appears set to end 2013 on a positive note with a modest gain of over 7 per cent, but such gains are not to be seen in a majority of stocks available in the market, which predominantly include those of mid-size and smaller companies, shows an analysis of various indices.
Adopting a wait- and-watch approach ahead of US Fed meeting
Beating forecasts, ArcelorMittal on Wednesday reported a 18.5 per cent rise in its core profits (EBITDA) to $1.713 billion during the third quarter as it fared better almost on all parameters, including rise in steel shipments and iron ore sales.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
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