New Delhi, May 13 -- After four straight sessions of losses, Indian equities ended Wednesday's trade on May 13 with modest gains, although the benchmark indices pared a large part of their intraday advances. Strong buying in metal and oil & gas stocks helped support the recovery, with the Nifty 50 settling 0.14% higher at 23,412 compared to Tuesday's close.

The S&P BSE Sensex gained 0.08% to settle at 74,615. However, the broader markets outperformed the frontline indices, with the Nifty Midcap 100 index advancing 0.74%, while the Nifty Smallcap 100 index rose 0.24%, indicating that market breadth turned in favour of the bulls.

The Indian government on Tuesday increased import tariffs on gold, silver, and other precious metals from 6% t...