Sensex rally for 2nd day amid US trade talk optimism

Benchmark indices Sensex and Nifty rose for the second day on Wednesday on buying in IT, banking, and auto shares by investors enthused by positive daylong discussions with the visiting US team on a bilateral trade deal.

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‘The 30-share BSE Sensex edged higher by 313.02 points or 0.38 per cent to settle at 82,693.71. During the day, it jumped 361.26 points or 0.43 per cent to 82,741.95.

The 50-share NSE Nifty climbed 91.15 points or 0.36 per cent to 25,330.25.

Growing expectations of a rate cut by the US Federal Reserve and positive US-India discussions on a proposed trade deal helped stock markets extend their rally, analysts said.

Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers.