Nifty ends in green for 6 straight sessions; M&M up 3.5 per cent

The benchmark Nifty remained in a consolidation mode for second consecutive day but it closed in a positive terrain for sixth straight day. Global cues were also quite supportive today; Asian markets ended 0.9-1.8% higher.

European markets were trading marginally higher, at the time of closing of Indian equities. The US markets were closed 2-2.8% higher on Tuesday; a successful debt offering from Spain and Ireland aided sentiment.

"Gradually, there is a return of some amount of optimism in the market over the last three-five days. We seeing that at lower levels there is continuous buying interest, which has come into the market again. This time around also it got proven true. So given that there is global turmoil in the markets keeps on capping off at some level around 17,500-18,000 to about 5,400-5,500 on the Nifty," says Naresh Kothari, President of Edelweiss Capital.

The 30-share BSE Sensex closed at 17,462.87, up 50.04 points or 0.29% and the 50-share NSE Nifty rose 11 points or 0.21% to settle at 5,233.35.

Anil Dhirubhai Ambani and Mukesh Ambani group companies' shares were the most active ahead of Reliance Industries AGM on June 18. Reliance Natural Resources, Reliance Industrial Infrastructure, Reliance Capital and Reliance Communications were the most active shares.

CNBC-Awaaz learns from sources that Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications.