Markets Closing: Sensex Zooms 790 Points Led By Financials

Strong buying in financial stocks boosted benchmark indices by 1.6 percent ahead of the monthly expiry of the April F&O contracts, which is due tomorrow.

Traders around the world were based on the US Federal Reserve's policy decision and earnings reports from a range of blue-chip firms.

On Wednesday, Indian markets rose for the third day in a row, led by banks, financials, and auto stocks. The Sensex closed at 49,733 points, up 790 points, and the Nifty closed at 14,864 points, up 1.4 percent.

Britannia Industries, Hindalco Industries, Nestle, Divis Labs, and HDFC Life were among the top gainers on Nifty, while Britannia Industries, Hindalco Industries, Eicher Motors, Bajaj Finserv, and Kotak Mahindra Bank were among the top losers.

The SBI board of directors approved a plan to raise up to $2 billion today.

Maruti Suzuki is closing its factories in Haryana to make oxygen available for medical purposes. Suzuki Motor, on the other hand, is closing its Gujarat plant to make oxygen available for medical purposes.

On the BSE, Maruti Suzuki India was trading at Rs 6,592.70, up Rs 34.50 or 0.53 percent.

The rupee has been trading strongly as increased fund flows into capital markets, mostly in the financial sector. Crude oil prices have remained stable near 66 in Brent, reducing the rupee's weakness.