The Indian stock market settled higher on Wednesday propelled by the gains in the US futures, which are currently trading up to 2 percent higher.

The BSE Sensex ended 355 points higher at 40,616 while the NSE Nifty rose 95 points to close at 11,908. Broader markets were combined with the Nifty Mid-cap up 0.5 percent and Nifty Small-cap down 0.24 percent.

IndusInd Bank, Sun Pharma, Divis Lab, Reliance Industries and Cipla were among major gainers in the Nifty50 index today. ON the other hand UPL, Axis Bank, HDFC, ICICI Bank and Hindalco were top losers

Among sectors, Nifty Pharma surged over 2 percent while Nifty IT climbed 1.8 percent. Nifty Auto and Nifty FMCG were also in the green.  On the downside, Nifty Bank, Nifty Financial Services and Nifty Metal ended in the red for the day. IT stocks were among the top outperformers with stocks like Infosys, Wipro closing with strong gains.

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