Snapping six straight sessions of losses, benchmark Indian equity indices ended higher on Wednesday led by gains in banking and financial stocks. The S&P BSE Sensex gained 645.97 points or 1.72% to close at 38177.95, while the Nifty 50 index advanced 186.90 points or 1.68% to close at 11,313.30. In the broader market, the S&P BSE Mid-Cap index was up 1.38%, while the S&P BSE Small-Cap index rose 0.66%.
The market breadth was positive. On BSE, 1,277 shares rose while 1,242 shares fell. A total of 179 shares were unchanged. On the Nifty 50, 38 stocks advanced and 12 stocks declined.
BSE’s banking index, Bankex, gained 3.67% to close at 32,537.43. Private and Public sector banks were in demand. IndusInd Bank rose 5.45%, State Bank of India was up 4.78%, ICICI Bank 4.88%, Kotak Mahindra Bank 3.58%, HDFC Bank advanced 3.44%, Axis Bank gained 2.01%, Bank of Baroda 4.54%, Canara Bank 2.65%, Punjab National Bank 2.27%, Bank of India 3.70%, and Union Bank of India rose 2.92%.