BSE, NSE to remain closed today on account of Babasaheb Ambedkar Jayanti

New Delhi: The BSE and NSE will remain closed on Wednesday on account of Babasaheb Ambedkar Jayanti.

Stock markets regained footing on Tuesday after the previous session's massive selloff, tracking renewed buying interest in financial, bank and auto counters amid firm global cues.

Building on a positive start, the 30-share BSE Sensex gained momentum in late-afternoon trade to close 660.68 points or 1.38 per cent higher at 48,544.06.

On similar lines, the broader NSE Nifty surged 194 points or 1.36 per cent to finish at 14,504.80.

M&M was the top gainer in the Sensex pack, rallying 8.02 per cent, followed by Bajaj Finserv, Bajaj Finance, Maruti, IndusInd Bank, ICICI Bank, ONGC and Axis Bank.

On the other hand, TCS was the biggest laggard, slumping 4.21 per cent, a day after reporting its March quarter results.

Meanwhile, Global equity markets rose to a fresh record high on Wednesday. Most Asia-Pacific share indexes followed Wall Street higher, with Hong Kong`s Hang Seng leading gains in the region, while benchmark U.S. Treasury yields continued their decline, marking a fresh three-week low. Japan bucked the trend, with the Nikkei falling 0.4%. MSCI`s broadest index of Asia-Pacific shares outside Japan gained 0.6%. Hong Kong`s Hang Seng rallied 1.3%, while China`s blue-chip index jumped 0.7%, a Reuters report said.