Sensex closed above 37,200 for the first time since September
The SP BSE Sensex rallied more than 100 points while Nifty50 held on to 11000 levels; however, it failed to close above the resistance level of 11,042.
The final tally on D-Street -- the SP BSE Sensex rose 125 points to close at 37,270 while the Nifty50 closed 32 points higher at 11,035.
In terms of sectors, the Realty index rose more than 4%, followed by the Auto index which was up 3.5%, and Metal index gained 2.4%. IT Index closed lower for the second consecutive day in a row as rupee records minor gains vs USD.The
auto sector got a booster shot after media reports suggested that the finance minister Nirmala Sitharaman hinted at more steps to help the auto companies. The industry experts hope the government will take some actions on the auto industry's key demands: GST rate cut and scrappage policy, CNBC-TV18 said in a report.
For the real estate sector which is reeling under a slowdown, the government may make some announcement for the sector in the coming days, CNBC TV18 reported Minister of State (MoS), Finance Corporate Affairs, Anurag Thakur as saying at an event on Wednesday.
Nearly 200 stocks hit a fresh 52-week low on the BSE which include names like Somany Ceramics, Simplex Infra, Omaxe, Shemaroo Entertainment etc. among others.