New Delhi: The Indian equity benchmarks on Wednesday extended gains to the second consecutive session led by strong buying interest in automobile and banking stocks. The 30-share BSE soared 657 points or 1.14 per cent to settle at 58,466, while the broader NSE Nifty moved 197 points or 1.14 per cent higher to close at 17,464.
Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 index jumped 1.14 per cent and small-cap shares moved 0.41 per cent higher.
13 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in green. Nifty Auto and Nifty Private Bank outperformed the index by rising as much as 2.19 per cent.
On the stock-specific front, Coal India was the top Nifty gainer as the stock surged 5.63 per cent to Rs 168.95. Maruti Suzuki India, Indian Oil Corp, Shree Cement and Hindalco were also among the gainers.
In contrast, ONGC, BPCL, ITC, SBI Life, and Tata Steel were among the losers.
The overall market breadth stood positive as 1,749 shares advanced while 1,585 declined on BSE.
On the 30-share BSE platform, Maruti, IndusInd Bank, HDFC Bank, Bajaj Finserv, Wipro, Tech Mahindra and Titan attracted the most gains with their shares rising as much as 4.09 per cent. Sun Pharma, ITC and Tata Steel were among the laggards.
Adani Wilmar rose as much as 19.98 per cent to hit its upper circuit limit of Rs 318.20, valuing the firm at Rs 41,355 crore.
Meanwhile, the Reserve Bank of India is expected to hold its repo rate steady and increase its reverse repo at the end of a three-day meeting on Thursday.
Repo rate is the rate at which a central bank lends money to banks, and reverse repo rate is at which it borrows from commercial lenders.