MARKET LIVE: Sensex leaps 350 pts, reclaims 38,000-mark; metals rally

Domestic stock market built on its previous day's gains and was trading over a per cent higher on Wednesday.

The benchmark S&P BSE Sensex was ruling 383 points, or 1.02 per cent, higher at 38,071 level. Tata Steel and Axis Bank, up 2.4 per cent each, were the top gainers on the index, followed by gains in IndusInd Bank and Reliance Industries (up 2 per cent each), and Bajaj Finance (1 per cent). 

On the downside, only Power Grid and Nestle were trading as laggards on the 30-share index, down 1 per cent each.  

The broader Nifty50, meanwhile, was hovering around 11,200-level, and was at 11,206.

Sectorally, metal stocks surged higher amid positive global cues. Nifty Metal index was up 2 per cent on the NSE, while Nifty Auto and Private Bank indices advanced 1 per cent, each.
 

In the broader market, S&P BSE MidCap index was at 13,984 level, up 0.92 per cent. On the other hand, S&P BSE SmallCap index was up 0.8 per cent at 13,424 level.