Sensex, Nifty mark best day in a month on earnings cheer

The NSE Nifty 50 index jumped 1.44% to 14,864.55, while the benchmark S&P BSE Sensex climbed 1.61% to 49,733.84.

Indian shares closed sharply higher on Wednesday as financial and auto stocks surged following a set of strong quarterly results, with motorbike maker TVS Motor clocking its best session in more than one-and-a-half years. The NSE Nifty 50 index jumped 1.44% to 14,864.55, while the benchmark S&P BSE Sensex climbed 1.61% to 49,733.84. Both indexes saw their best day since March 30 and marked three straight sessions of gains, following a pandemic-led slump in recent weeks. Even as domestic coronavirus cases surged and deaths crossed a grim milestone of 200,000, investors have turned their focus to strong March-quarter results as analysts believe companies may not take a hit like they did last year.