New Delhi, May 15 -- The Indian stock market closed on a positive note on Wednesday, May 14, supported by broadly favorable global signals indicating a reduction in geopolitical tensions.

The Sensex gained 182 points, or 0.22%, ending at 81,330.56, while the Nifty 50 advanced 89 points, or 0.36%, to settle at 24,666.90.

The BSE Midcap and Smallcap indices increased by 1.19% and 1.63%, respectively.

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is cautious to positive as the Nifty 50 index is trading in 24,500 to 24,800 range.

Speaking on the outlook of Indian stock market, Bagadia said, " Bullish or bearish trend can be assumed on the breakage of either side of the range. So, one...