Sensex surges 100pts, Nifty above 17K; M&M gains 1%

Domestic markets opened on a positive note in Wednesday’s trade, amid mixed global cues.

Benchmark indices Nifty50 climbed over 50 points to reclaim 17,000-mark, whereas the S&P BSE Sensex gained over 200 points to trade around 57,823 levels.

The strength spread across broader markets as well, with Nifty Midcap 100 and Nifty Smallcap 100 indices surging up to 0.1 per cent. Volatility gauge, India VIX, meanwhile, slipped over 2 per cent.

Sectorally, Nifty Bank, and Nifty Auto indices led the charge as they gained up to 0.7 per cent, while Nifty Realty, and Nifty PSU Bank indices were bogged down in trade.

Among individual stocks, shares of Jindal Stainless surged over 2 per cent after the stainless steel firm signed an agreement with New Yaking Pte to set up a nickel pig iron smelter in Indonesia.

Besides, shares of RPP Infra Projects rallied over 3 per cent after the company bagged a new order worth Rs 148.08 crore.