Key equity indices managed a close in the positive terrain on Wednesday underpinned by the strong indications from the world-wide markets. Benchmark indices opened soft in the morning but value picking from investors helped the markets to touch their peaks in over a month's time during the day's trade. However, markets pared most of their intraday gains in the late hour on profit booking from the investors ahead of the scheduled F&O expiry in next session. Market participants looked nervous about the rush by the Indian corporate for the fund raising through QIP route which may absorb liquidity available in the market. Among front liners Hero Honda, ITC and HUL were the pick of the day while DLF, RCom and Jaiprakash Associates remained at the bottom of the list. Selling was evident in the second line stock which pulled the BSE Mid-cap and Small-cap lower in day's trade. Finally, the 30-share BSE Sensex gained 67.87 points or 0.40% to close at 17,198.95, while the S&P CNX Nifty soared 17.60 points or 0.35% to settle at 5108.15.

The US markets closed modestly higher on Wednesday, ahead of the thanksgiving holiday. It was a light trading day and the report of drop in unemployment claims and a rise in home sales pulled the stock market higher. The drop in jobless claims suggests that the job market is healing, but concern remains that the improvement will be temporary that's why the markets were unable to surge high. The Dow Jones industrial average was up by 30.69 points, or 0.29%, to 10,464.40.The broader Standard & Poor's 500 index rose 4.98 points, or 0.45%, to 1,110.63, and the Nasdaq composite index added 6.87 points, or 0.32%, to close at 2,176.05.

Crude prices rose on Wednesday as the dollar declined again to its 15-month low and when the dollar falls, commodities become more affordable to buyers outside the US, especially the crude. Benchmark crude for January delivery rose $1.94 to settle at $77.96 on the New York Mercantile Exchange, despite growing supply. In London, Brent crude for January delivery rose $1.98 to settle at $78.44 on the ICE Futures exchange.

The Indian rupee advanced further on Wednesday the weakness in dollar overseas gave the required momentum while the bounce back in local share markets supported the sentiments. The rupees closed at 46.22, 16 paise stronger compared to its Tuesday's close of 46.38. The government's indication that it won't impose any measure right now to restrict the foreign fund inflow, worked as a catalyst in rupee strength.

The FII on Wednesday were the net buyers in both equity as well as debt segments. In equity segment the gross buying was of Rs 2342.70 crore against gross sell of Rs 2040.00 crore, while in the debt segment the gross purchase was of Rs 1179.60 crore with gross sales of Rs 1102.10 crore.

The US markets recovered all its previous day losses on Wednesday, though it was a thin trading day ahead of thanksgiving holiday but investors were not very much impressed by the drop in jobless claims as they fear that corporate might cut more jobs. The Asian markets despite a smart recovery in previous session have made a mixed opening and Chinese market is again trading down by about 1%. The cue for the domestic markets is of a cautious opening though it being the expiry day for the November F&O series, the trading is likely to turn volatile in late trades.

Support and Resistance: S&P CNX Nifty and BSE Sensex

                                                             Nifty Top volumes

• Unitech has sought government approval to raise $700 million through foreign currency convertible bonds (FCCBs).
• Suzlon Energy's Australian operation arm 'Suzlon Energy Australia' has got an order Infigen Energy to deliver 20 units of its S88-2.1 MW WTGs.
• DLF has stated that the company has no plans for further capital raisings before the fiscal year ends in March.
• Tata Motors will start the trial production of the 'Nano' from Sanand in Gujarat from the last quarter of the current fiscal
• Maruti Suzuki has stopped production of its multi-utility vehicle 'Versa' and will launch a new van soon.