On Wednesday, Indian equity benchmarks rallied substantially, led by gains across all sectors. Asian stocks rose, after overnight advances on Wall Street, as investors focused on the Federal Reserve meeting in the United States. The Federal Reserve of the United States is likely to boost interest rates by 25 basis points. In such case, it would be the first interest rate increase in three years. Hopes for a conclusion in the Russia-Ukraine negotiations were similarly high.
The 30-share BSE Sensex rose 1,040 points, or 1.86 percent, to close at 56,817, while the broader NSE Nifty rose 312 points, or 1.87 percent, to 16,975.
Mid- and small-cap stocks closed strongly, with the Nifty Midcap 100 index up 2.01% and small-cap stocks up 1.17 percent.
The National Stock Exchange's 15 sector gauges all finished in the green. Nifty Metal, Nifty Private Bank, and Nifty Auto all beat the index, climbing 2.63 percent, 2.44 percent, and 2.16 percent, respectively. UltraTech Cement was the highest Nifty gainer, rising 4.63 percent to Rs 6,300. Axis Bank, Bajaj Auto, IndusInd Bank, and Shree Cement also gained.
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