Sensex, Nifty End Notably Higher; Adani Group Shares Rally
(RTTNews) - Indian shares ended Wednesday's session notably higher as banking concerns continued to ease and Adani Group stocks rebounded from recent string of losses after a clarification on pledged shares.
Recent worries over a possible banking crisis continued to ease after top U.S. regulators expressed confidence that banks were solvent, blaming the recent collapse of Silicon Valley Bank on mismanagement, rather than systemic risks.
The benchmark S&P/BSE Sensex jumped 346.37 points, or 0.60 percent, to 57,960.09 while the broader NSE Nifty index settled 129 points, or 0.76 percent, higher at 17,080.70.
Adani Enterprises soared 9.3 percent and Adani Ports jumped 7.2 percent after the Group refuted reports on pledged shares.
HCL Technologies, Eicher Motors and Hero MotoCorp all rose around 3 percent.
The rupee was slightly lower while oil extended gains for a third day running on industry data showing a big draw in U.S. crude stockpiles.
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