Indian Sensex up more than 775, Nifty gains nearly 190
Indian stock markets got a nice lift on Wednesday, with the Sensex rising more than 775 points and the Nifty climbing nearly 190 points.
The rally was fueled by cheaper crude oil and upbeat comments from the Reserve Bank of India governor on inflation and interest rates, just the kind of news that makes investors smile.
Banking, financials, cement and IT lead
Banking, financial services, cement, and IT stocks led the charge.
Trent, IndiGo, ICICI Bank, Dr. Reddy's Laboratories, and Bajaj Finance were among today's top winners on Nifty 50. Meanwhile, Bajaj Auto, NTPC, Maruti Suzuki India Ltd. and Wipro slipped behind.
Midcap action saw Exide Industries and AU Small Finance Bank as gainers; GE Vernova T&D and Hitachi Energy India dropped off.
Despite the headline surge, broader markets were a bit mixed, with slightly more stocks declining than advancing across the National Stock Exchange.