Mumbai (Maharashtra) [India], Sep 16 (ANI): Equity benchmark indices traded higher in the afternoon session on Wednesday while Asian stocks were flat ahead of the US Federal Reserve's view on the economy.

The BSE SP Sensex closed 259 points or 0.66 per cent at 39,303 while the Nifty 50 gained by 83 points or 0.72 per cent at 11,605.

Except for Nifty media and PSU bank, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty realty gaining by 2.2 per cent, pharma by 2 per cent and auto by 1.5 per cent.

Among stocks, Dr Reddy's jumped by 4.44 per cent to close at Rs 4,639.60 per share after it announced cooperation with Russian Direct Investment Fund (RDIF) to conduct clinical trials and distribute Sputnik V vaccine in India for treatment of COVID-19.

MahindraMahindra accelerated by 4 per cent to Rs 638.05 per share while Bajaj Auto moved up by 3.5 per cent and Tata Motors by 1.7 per cent.

Realty major DLF spurted by 5.2 per cent to close the day at Rs 163.60 per share while Prestige Estate Projects gained by 3.9 per cent and Oberoi Realty by 3 per cent.

However, those which lost were IndusInd Bank, Axis Bank, State Bank of India, JSW Steel, Bharti Airtel and ONGC.

Meanwhile, Asian shares were mixed as investors awaited the Federal Reserve's view on the economy at its policy meeting.

Japan's Nikkei was up by 0.09 per cent as Yoshihide Suga was formally voted as the country's next prime minister.

Hong Kong's Hang Seng was down by 0.03 per cent and South Korea's Kospi by 0.31 per cent. (ANI)