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Sensex increases over 250 points, Smart over 14,700; Bajaj Finance Top Gainer

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Sensex has increased by 297 points.

Indian stock indices rose on Wednesday, driven by gains from IndusInd Bank, ICICI Bank, Bajaj Finance, State Bank of India, Axis Bank, Bharti Airtel and Bajaj Auto. The Sensex rose 297 points to an intraday high of 49,241.50 and the Nifty 50 Index rose above its psychologically important level of 14,700.

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At 9:22 a.m., the Sensex was up 276 points or 0.56% to 49,220 and the Nifty 50 Index was up 83 points or 0.57% to 14,736.

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Meanwhile, the largest MSCI index of Asia-Pacific stocks outside of Japan fell 0.23 percent. Australian stocks were up 0.55 percent, but Chinese stocks were down 0.44 percent. Shares in Tokyo edged up 0.16%.

Overnight, stocks relaxed from their record highs on Tuesday, as optimism about a global economic recovery was marred with caution ahead of a Federal Reserve policy move and earnings updates from a certain number of blue chip companies.

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