The frontline equity indices continued their winning momentum, gaining for the fourth straight session and settling around 0.5 per cent higher on Wednesday aided by gains in banking and fast-moving consumer goods (FMCG) stocks.
The S&P BSE Sensex
ended at 36,213, up 232 points or 0.64 per cent, while the broader Nifty50 index settled at 10,855, up 53 points or 0.49 per cent.
Among the sectoral indices, the Nifty
FMCG index rose 1.01 per cent led by gains in ITC and Dabur India. The Nifty
Bank index too rose 0.77 per cent led by Axis Bank, HDFC Bank and ICICI Bank.
However, shares of YES Bank ended 3.02 per cent lower at Rs 186.55 on the National Stock Exchange (NSE) as the investors awaited the outcome of the bank's board meeting in regards to the appointment of the new managing director (MD) and chief executive officer (CEO).
The broader market indices, however, settled marginally in red with the S&P BSE Midcap ending at 15,122 levels, down 6 points or 0.04 per cent, while S&P BSE SmallCap slipped 24 points or 0.17 per cent to 14,601.
traded on a weak note during the day falling to 70.64 against the dollar in intra-day trade. The domestic unit had settled at 70.20 against the greenback on Tuesday.
Asian shares climbed to a three and half week high on Wednesday and European and US markets
looked set to follow on growing optimism that the United States and China were inching toward a trade deal that could lift a major threat to the global economy.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.5 per cent after Sino-US trade talks in Beijing were extended for an unscheduled third day, suggesting some progress was being made.
Japan's benchmark Nikkei rose 1.1 per cent, while China's Shanghai Composite and the blue-chip CSI 300 rebounded 0.8 per cent and 1.1 per cent, respectively.
Oil prices rose by around 1 per cent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy.
US West Texas Intermediate (WTI) crude oil
futures were at $50.38 per barrel, up 60 cents, or 1.2 per cent, from their last settlement. That marked the first time this year that WTI has topped $50 a barrel. International Brent crude futures were up 61 cents, or 1 per cent, at $59.33 per barrel.
(with Reuters input)