Closing Bell: Sensex, Nifty50 close 1% higher; financial, auto stocks lead the surge

The Indian markets closed on a positive note for the straight third session led by banking, financial and auto stocks on Wednesday. Both, the benchmark indices – Sensex and Nifty50 – reported around 1 per cent growth.

At the market close, the BSE Sensex surged over 740 points or 1.3 per cent to 58683 and Nifty50 soared by 173 points or 1 per cent to 17498 levels. Similarly, the broader markets such as Nifty Midcap 100 and Small-cap 100 closed nearly 1 per cent at the market close. 

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As many as 32 stocks advanced and 18 declined on Nifty50 at the close. HDFC Life and Bajaj Finserv gained most by around 3.5 per cent, followed by Tata Consumer, Bajaj Finance and Mahindra and Mahindra surged between 2.5-3 per cent at the market close. 

On the other hand, ONGC continued to be the top loser, down by over 5 per cent, followed by Hindalco, JSW Steel each tumbled over 4.5 per cent, while ITC and Tata Steel slumped by over 2 per cent at the market close today.