Sensex Rises 125 Points; Yes Bank Soars 13%
The 30-share Sensex settled 125.37 points, or 0.34 per cent, higher at 37,270.82.
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The BSE Sensex ended 125 points higher on Wednesday, led by gains in banking and auto stocks amid firm cues from other Asian markets.
The 30-share index settled 125.37 points, or 0.34 per cent, higher at 37,270.82. It hit an intra-day high of 37,343.46 and a low of 37,193.57.
Similarly, the broader NSE Nifty rose 32.65 points, or 0.30 per cent, to close at 11,035.70.
Yes Bank was the biggest gainer in the Sensex pack, rallying 13.47 per cent, following reports that digital payments major Paytm may buy a stake in the lender from co-founder Rana Kapoor.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent
On the other hand, ONGC, HCL Tech, NTPC, Sun Pharma, TCS, Bajaj Finance, PowerGrid, Tech Mahindra and Infosys were among the top losers on the index, shedding up to 2.93 per cent.
Besides positive cues from global markets, investor sentiment was buoyed on hopes of further measures by the government to boost the economy, experts said.
Finance Minister Nirmala Sitharaman on Tuesday said the government has set up a task force to boost investments in infrastructure projects and is in the process of identifying sectors which need funding from the Centre.
Elsewhere in Asia, Hang Seng, Nikkei and Kospi settled significantly higher, while Shanghai Composite Index ended in the red.
Exchanges in Europe were trading in the green in their respective early sessions.
The Indian rupee appreciated by 2 paise (intra-day) to trade at 71.68 per US dollar.
Global oil benchmark Brent crude was trading 0.82 per cent higher at USD 63.20 per barrel.