Stock Market: Mid, SmallCap indices gain 1%; Chennai Petroleum soars 15%, SAIL 7%

Benchmark indices were trading in a rangebound manner on Wednesday backed by upbeat cues from global peers.

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The S&P BSE Sensex was up 300 points, holding on to 74,000-mark, while the NSE Nifty 50 was up over 90 points at 22,459.80.

JSW Steel, Tata Steel and Sun Pharma are among the top gainers on 30-share Sensex. Hindustan Unilever and Axis Bank traded on a flat note ahead of Q4 earnings today.

In the broader markets, the BSE SmallCap index was off highs after advancing nearly 1 per cent to hit a fresh record high of 46,912.

Among sectors, the Nifty Metal was up over 2 per cent while Healthcare was up over 1 per cent.