The headline equity benchmarks ended with tiny gains on Wednesday. The Nifty settled above the 24,600 level. 
The barometer index, the S&P BSE Sensex, rose 16.09 points or 0.02% to 81,526.14. The Nifty 50 index added 31.75 points or 0.13% to 24,641.80. 

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.25% and the S&P BSE Small-Cap index rose 0.35%. The market breadth was positive. 

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 3.70% to 13.27. 

Among the sectoral indices, the Nifty Consumer Durables index (up 0.57%), the Nifty FMCG index (up 0.42%) and the Nifty Auto Bank index (up 0.36%) outperformed the Nifty 50 index. 

Meanwhile, the Nifty PSU Bank index (down 0.89%), the Nifty Media index (down 0.51%) and the Nifty Bank index (down 0.35%) underperformed the Nifty 50 index. 

Numbers to Track: 

The yield on India's 10-year benchmark federal rose 0.22% to 6.829 as compared with previous close 6.814. 

In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 84.8350, compared with its close of 84.8550 during the previous trading session. 

MCX Gold futures for 5 February 2024 settlement shed 0.01% to Rs 78,321. 

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.31% to 106.73. 

The United States 10-year bond yield rose 0.36% to 4.238. 

In the commodities market, Brent crude for Feb 2024 settlement gained 69 cents or 0.96% to $ 72.88 a barrel. 

Global Markets: 

European stocks advanced while Asian stocks ended mixed on Wednesday as investors eagerly awaited the release of key US inflation data. The data is expected to provide crucial insights into the Federal Reserve's potential interest rate decision next week. 

Meanwhile, China is gearing up for its annual economic work conference, where policymakers will outline the nation's economic agenda for the coming year. Recent strong stimulus signals from top Chinese leaders have boosted market sentiment, with President Xi Jinping expressing confidence in achieving the country's growth target. 

In the US, stocks retreated for a second consecutive day, primarily due to weakness in the technology sector. Investors remained cautious ahead of the inflation report and the upcoming Federal Reserve meeting. The S&P 500 fell 0.3% to 6,034.91 points on Tuesday. The NASDAQ Composite fell 0.2% to 19,688.98 points, while the Dow Jones Industrial Average fell 0.4% to 44,247.83 points. 

Google owner Alphabet Inc. was a standout performer, rising 0.6% after hours following a 5.6% jump during the session. The company announced a new breakthrough in quantum computing, which could herald a sharp increase in computing speeds. 

Investors are also seeking more cues on what President-elect Donald Trump’s policies will entail for inflation and the economy, with his plans for increased trade tariffs expected to increase price pressures.