Benchmark equity indices Sensex and Nifty pared early losses to close higher for a second straight session on Wednesday, supported by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets. In a volatile trade, the 30-share BSE Sensex climbed 137.50 points or 0.21 per cent to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56 per cent to 65,032.89.