Domestic share markets rose on Wednesday, led by gains in banking and energy stocks, with broader Asian markets also higher on renewed hopes for a new US stimulus. The S&P BSE Sensex index rose 400.25 points – or 0.99 per cent – to touch 40,944.62 at the strongest level in early deals, and the broader NSE Nifty 50 benchmark climbed to as high as 12,008.45, up 111.65 points – or 0.94 per cent – from its previous close. Gains across sectors – led by banking and automobile shares – backed the upmove.
At 9:23 am, the NSE Nifty 50 index rose 0.93 per cent to 12,007.60, while the S&P BSE Sensex was up 0.99 per cent at 40,945.35.
The Nifty Bank index was up 1.1 per cent, boosted by a 1.3 per cent gain for lender HDFC Bank.
Reliance Industries rose 0.9 per cent after announcing it had expanded efforts with Qualcomm Inc to develop 5G solutions in India.
The Nifty Energy index was up 0.9 per cent.
The White House and Democrats moved closer to an agreement on a new COVID-19 relief package as US President Donald Trump said he was willing to accept a large aid bill despite opposition from his own party.
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