The Bombay Stock Exchange's 30-share Sensitive Index gained 37.10 points, or 0.2%, to close at 17,462.81.

The benchmark index has largely remained flat this week, after rising about 7.5% in June.

The National Stock Exchange's 50-share Nifty rose 14.60 points, or 0.3% to 5,302.55.

Trading volume at BSE's cash segment was a tad up at 20.50 billion rupees, against INR20.31 billion Tuesday.

Asian shares were mostly higher Wednesday, mainly on hopes that European and U.S. central banks will take more stimulus measures to boost economic growth.

Globally, investors are looking toward a European Central Bank rate-decision meeting Thursday, as well as U.S. employment numbers Friday, which are expected to encourage the Federal Reserve to implement more policy easing.

Daljit Singh, head of research at IndiaNivesh Securities, said he expects Indian equities to move in line with the global market in the next few days as there aren't any immediate domestic triggers.

In the past few days, mutual funds and some other investors have been picking up select small and mid-cap stocks, which are trading at a discount to headline Nifty stocks and are backed by good business outlook, Mr. Singh said.

The BSE Mid Cap index has added 2.3% so far this week, while the Small Cap index has risen 2.8%.

Sterlite Industries India was the top Sensex gainer, rising 5.3% to INR110.90, tracking globally strong sentiment for resources stocks. The stock has gained 24.5% in last one-month period.

Maruti Suzuki India rose 2.6% to INR1,221.75.

Credit Suisse said Maruti is the only auto major likely to surprise the street with its April-June earnings. Most other auto majors are likely to post a decline in their profit margins, it added.

Energy explorer Oil & Natural Gas fell 1.7% to INR284.65, mainly due to profit-taking.

Write to Ashutosh Joshi at ashutosh.joshi@dowjones.com

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