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Benchmark BSE Sensex spurted by 447 points to close above the psychological 50,000-mark on Tuesday following hectic buying in auto and IT counters amid positive domestic and global cues.
The 30-share index swung nearly 633 points during the session before ending at 50,296.89, showing a rise of 447.05 points or 0.90%.
Likewise, the NSE Nifty climbed 157.55 points or 1.07% to settle at 14,919.10, extending gains to a second day.
Oil prices were down in early trade on Wednesday, extending several days of losses, amid uncertainty over how much supply producing countries will push to restore to the market at a meeting this week while the coronavirus pandemic persists.
U.S. West Texas Intermediate (WTI) crude futures fell 18 cents, or 0.3%, to $59.57 a barrel by 0122 GMT, down 6% since Feb. 25, when they hit their highest close since May 2019.
Brent crude futures dipped 7 cents, or 0.1%, to $62.63 a barrel, down 7% from a 13-month high hit last week. (Reuters)
Asian stocks were steady and US equity futures advanced Wednesday after an overnight retreat on Wall Street amid concerns about excessive investor optimism.
Shares rose in Australia, where data showed the economy maintained its rapid recovery in the final three months of 2020. Equities fluctuated in Japan and South Korea.
Japan’s Topix index was flat.
Australia’s S&P/ASX 200 index rose 0.6%.
South Korea’s Kospi index added 0.3%.
Wall Street stocks fell Tuesday, giving back a portion of the gains from the prior session's rally as investors girded for more volatility.
The Dow Jones Industrial Average fell 0.5% to 31,391.52.
The broad-based S&P 500 dropped 0.8% to 3,870.29, while the tech-rich Nasdaq Composite Index tumbled 1.7% to 13,358.95.
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