Asian stocks rallied on hopes that the Federal Reserve may announce new bond-buying plans to stimulate the U.S. economy. Japan's Nikkei index was up 0.84%, while Hong Kong's benchmark gained 0.44%. The Dow index gained 0.8% to 12,837 overnight, its highest close in a month.
Barring IT and tech, all groups of stocks traded in the green on the BSE. Consumer durables and metal stocks led the rally. Commodity stocks like JSPL (2.8%) and Sesa Goa (1.86%) were among the top Nifty gainers.
Cement stocks fell sharply Wednesday ahead of an order by India's competition watchdog in the alleged cartelisation case. Ambuja Cements (-4%) was the top Nifty loser, followed by ACC (-2.3%).
On the Nifty, 36 of the 50 stocks traded higher. The market breadth was also positive, with nearly 74% stocks rising on the BSE 500 index, indicating buying in broader markets.
(With inputs from AP)