Auto, Metal Stock Drive Sensex 657 Points Higher, Nifty Closes Above 17,450

New Delhi: Bulls took over the D-street on Wednesday, lifting Sensex 657 points. Nifty50 too, closed in the green above 17,450, gaining close to 200 points. The rally was led by Auto, Metal and IT stocks. Maruti was the top gainer in Sensex, followed by IndusInd Bank, according to data available on bseindia.com. Coal India was the top gainer in Nifty.Also Read – How Rich Did Adani Group Get After Adani Wilmar IPO Listing?

SunPharma, ITC and Power Grid were the only stocks in the red in Sensex. In Nifty, Nifty Auto outshone other indices by gaining over 2 per cent during the day. Maruti shares were close to their 52-week high levels, surging close to 5 per cent on Wednesday. Apart from Maruti, Bharat Forge and Ashok Leyland gained over 3 per cent. Also Read – Share Market Today: 20 Shares For Profitable Trade On February 9

Nifty Metal was the second-highest gaining index of the day. In Metals, Coal India, National Aluminum and Hindalco showed top performance with Hindalco nearing 52-week high levels. However, despite good volumes, Tata Steel was among the top losers. Jindal Steel was the other top loser among the metals. Also Read – Sensex, Nifty50 Close In Green Amidst Strong Volatility

Adani Wilmar IPO, which showed a meek debut, hit the upper circuit in the Indian share market today. The shares of the company rose close to 20 per cent, to close at Rs 318, against the opening price of Rs 274 per equity share. The listing price was Rs 227 on BSE, Rs 3 less than the upper limit of the price band.

RBI is set to announce its Monetary Policy tomorrow, February 10. The markets have been jittery in the anticipation of the probable rate hike by the central bank. The Governor of RBI, Shaktikanta Das, will announce the new policy at 10 AM tomorrow. If the rates are hiked, according to media reports, there are chances of a market correction.