The benchmark indices rallied to their best Muhurat
trade session gains in 10 years, settling over 0.5 per cent higher in the Muhurat
session of Samvat 2075
led by a rise in automobile stocks
and information technology (IT) stocks.
The S&P BSE Sensex
had gained 5.86 per cent in Muhurat
trades on October 28, 2008 (Samvat 2065).
The S&P BSE Sensex
ended at 35,238, up 246 points (0.70 per cent) and the Nifty
50 index rose 68 points (0.65 per cent) to settle at 10,598 levels.
Among individual stocks, Mahindra & Mahindra (M&M) rose over 2 per cent to Rs 795 on the BSE, while Tata Motors gained 1 per cent to Rs 195. Infosys rose 1.5 per cent to Rs 677.
Wall Street stock futures and Asian shares
held earlier gains on Wednesday after Democrats won control of the US House of Representatives, boosting the party's ability to block President Donald Trump's political and economic agenda.
The Democrats' House win creates a clear hurdle for Republicans to easily pass legislation through both chambers of Congress, clouding the outlook for some of Trump's key economic proposals.
While both outcomes were broadly in line with market expectations, a reason markets
did not sell off, the prospect of political gridlock creates some uncertainty for investors. The dollar weakened against most of its major counterparts.
In equities markets, US S&P500 futures rose 0.3 per cent, MSCI's broadest index of Asia-Pacific shares
outside Japan rose 0.3 per cent and Japan's Nikkei gained 1.2 per cent.
Oil prices were soft after a 2 per cent fall the previous day, with US crude futures hitting an eight-month low as Washington granted sanction waivers to top buyers of Iranian oil and as Iran said it has so far been able to sell as much oil as it needs to.
US West Texas Intermediate (WTI) crude futures traded 0.5 per cent lower at $61.91 a barrel having hit a low of $61.31 on Tuesday, the weakest price since March 16.
(with Reuters inputs)