The Indian equities markets key indices, Sensex and Nifty, surged by nearly 2 per cent on Wednesday led by strong buying support in banking, financial and infra stocks as some positive development in Russia-Ukraine talks boosted investors' sentiments.
Taking cues from the rally in the global markets, the benchmark Sensex started the day sharply higher at 56,555.33 points and jumped to a high of 56,860.89 points in the intra-day.
The 30 stock S&P BSE Sensex witnessed strong buying support towards the end of the day. The Sensex ended the day at 56,816.65 points, which is 1039.80 points or 1.86 per cent higher than its previous day's close at 55,776.85 points.
The Sensex had lost 709.17 points or 1.26 per cent on Tuesday.
The broader Nifty 50 of the National Stock Exchange surged 312.35 points or 1.87 per cent to 16,975.35 points against its previous day's close at 16,663.00 points. The Nifty had lost 208.30 points or 1.23 per cent on Tuesday.
There was strong buying support in infra and banking and financial stocks.
UltraTech Cement surged 4.69 per cent to Rs 6303.55. Axis Bank surged 3.66 per cent to Rs 723.70. IndusInd Bank jumped 3.60 per cent to Rs 928.20. Bajaj Finance soared 2.63 per cent to Rs 6840.10 and Bajaj Finserv jumped 2.60 per cent to Rs 16116.95.
Only two of the 30 Sensex scrips closed in the red. Sun Pharma and Power Grid Corporation closed marginally in the red.
( With inputs from ANI )
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