The Indian equity market closed higher on Wednesday, rising over 2.7% on hopes of rate cut by RBI, positive global cues and in anticipation that the government will initiate key reforms to boost investment sentiments. All sectoral indices closed in the green; major gainers were auto, capital goods, power, financial and metal stocks.
While the Sensex closed at 16454, up 434 points, the Nifty jumped 134 points to end the day at 4997.
Major gainers were Tata Motors (5.70%), Larsen & Toubro (4.72%), Hero MotoCorp (4.30%), Jindal Steel & Power (4.30%), I T C (3.68%), NTPC (3.74%) and Maruti Suzuki (2.78%).
The Auto index jumped 3.86%. Major gainers were Apollo Tyres (7.1%), Bajaj Auto (3.2%), Ashok Leyland (3.17%), Bharat Forge (2.18%) and Exide Industries (0.77%).
The Capital Goods index gained 3.63%. Major gainers were A B B (2.56%), Bharat Electronics (2.39%), Alstom Projects India (1.65%), A I A Engineering (1.22%) and BEML (0.55%).
The Power index was up 3.49%. Major gainers were Reliance Infrastructure (4.79%), Adani Power (4.27%), Bharat Heavy Electricals (2.86%), Crompton Greaves (2.73%) and A B B (2.56%).
The Bankex jumped 3.01%. Major gainers were Kotak Mahindra Bank (4.03%), State Bank of India (3.81%), HDFC Bank (3.50%), Axis Bank (3.04%) and Yes Bank (2.61%).
The FMCG index gained 2.95%. Major gainers were Dabur India (5.19%), I T C (4.23%), United Breweries (3.86%), Hindustan Unilever (3.28%) and Godrej Consumer Products (0.75%).
Major gainers in the mid–cap space were CORE Education and Technologies (6.28%), Aban Offshore (2.67%), Alstom Projects India (1.65%), A I A Engineering (1.22%) and A B G Shipyard (0.33%).
Major gainers among small caps were A B G Infralogistics (3.13%), A2Z Maintenance & Engineering Services (2.94%), Trident (1.37%), Aanjaneya Lifecare (1.11%) and Styrolution ABS (India) (0.07%).
Globally, Asian indices ended on a higher note while European indices were trading in the green
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