Sensex ends above 32,000, Nifty settles near 9,400

Indian stock market benchmarks BSE Sensex and Nifty 50 index ended with over 2 per cent gains on Wednesday.

The S&P BSE Sensex rallied 637 points or 2 per cent to settle at 32,009. of 30 constituents of the index, 26 ended in the green and rest four in the red. Axis Bank (up 7 per cent) ended as the biggest gainer on the index while Nestle India (down over 5 per cent) emerged as the top loser.

NSE's Nifty advanced 187 points or 2 per cent to 9,383.55 levels.

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Sectorally, banking stocks rallied the most. The Nifty PSU Bank index jumped over 6 per cent to 1,238.05 while Nifty Bank climbed over 4 per cent to 19,635.

Pharma stocks, on the other hand, ended in the red. Nifty Pharma slipped over 1 per cent to 9,148.