Sensex rises 657 points as bank, auto stocks surge; Nifty settles above 17,450

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NEW DELHI: Equity indices finished higher on Wednesday with the benchmark BSE sensex rising over 650 points led by gains in auto, bank and IT stocks.
The 30-share BSE index jumped 657 points or 1.14 per cent to close at 58,466. While, the broader NSE Nifty settled 197 points or 1.14 per cent higher at 17,46

Top gainers in the sensex pack included Maruti, IndusInd Bank, HDFC Bank, Bajaj Finserv and Wipro rising as much as 4.09 per cent.
Sun Pharma, ITC and Tata Steel were the only losers falling up to 0.72 per cent.

On the NSE platform, sub-indices Nifty Auto, Metal, Bank and IT gained as much as 2.19 per cent.
Investors are eying Reserve Bank of India’s (RBI) monetary policy decision scheduled to be released tomorrow.
“It looks like Wall Street has accepted the fact that interest rates are going to rise, and that has seeped into domestic markets,” Aishvarya Dadheech, fund manager at Ambit Asset Management told news agency Reuters.
“In India, I feel volatility is here to stay for at least two more months before we see clear skies, with key rate decisions and elections coming up,” Dadheech added.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,967.89 crore on Tuesday, according to stock exchange data.

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