The market is holding its strong gains supported by metals, IT, auto, pharma and FMCG stocks. The Sensex is up 189.62 points or 0.7 percent at 28261.55 and the Nifty is up 53.65 points or 0.6 percent at 8570.55. About 1762 shares have advanced, 652 shares declined, and 117 shares are unchanged.
Tata Steel, Bajaj Auto, Vedanta, Infosys and Wipro are top gainers while GAIL, M&M, SBI and ICICI Bank are among losers in the Sensex. Amid a weak trend overseas, gold prices fell 0.28 percent to Rs 24,605 per 10 grams in futures trade on Wednesday as participants reduced their exposure.
Analysts said a weak trend in the overseas markets following a possible rate hike by the US Federal Reserve, lifting dollar to a four-month high, eroding demand for the precious metals as an alternative, weighed on gold prices at futures trade here. Globally, gold traded 0.3 percent down at USD 1,084.70 an ounce in Singapore on Wednesday.
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