Sensex gains 499 points as financials rally, Nifty ends at 10,430

Domestic stock market indices ended higher on Wednesday amid buying in financial counters. 

The NSE Nifty 50 index closed 1.24% higher at 10,430.05 while the benchmark S&P BSE Sensex ended up about 500 points at 35,414.45, after recording their best quarter in 11 years. 

Axis Bank, Bajaj Finserv, ITC, HDFC, and Bajaj Finance were the top gainers.

Global markets

Global stocks struggled for momentum on Wednesday as improving economic data was offset by concern that surging coronavirus cases in the United States could derail the world’s recovery before it properly begins.

MSCI’s world shares index was 0.1 per cent higher after rising 18 per cent for its biggest three-month gain since 2009 in the second quarter, but it still closed the first half around 8 per cent lower from where it started the year.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China. E-Mini futures for the S&P 500 were down 0.2 per cent.

(With inputs from Reuters)