Sensex rises 394 points to 49,792, Nifty at 14,645; RIL jumps 1.9%

"Janet Yellen's statement that the United States needs a big stimulus push has pumped markets across the globe, including India," said Ajit Mishra, vice president, research at Religare Broking

The equity benchmarks galloped to fresh lifetime highs on Wednesday, in lockstep with global markets which surged ahead of US President-elect Joe Biden's inauguration amid expectations of fresh stimulus by the incoming administration.

Rallying for the second straight day, the 30-share BSE Sensex advanced by 393.83 or 0.80 per cent to close at 49,792.12.

The broader NSE Nifty jumped 123.55 points or 0.85 per cent to settle at 14,644.70.

World stocks, too, advanc­ed after US Treasury Secretary nominee Janet Yellen called for a hefty stimulus to protect the US economy. Biden, who will be sworn into office on Wednesday, has laid out a