The Sensex ended up 550.92 points or 1.63% at 34,442.05, on Wednesday while the Nifty was higher by 188.20 points or 1.85% at 10,386.60 after the government said that it respects the Reserve Bank of India’s autonomy.
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The statement from finance ministry came after tensions mounted between the central bank and the government. The benchmark indices fell in early trade but regained after the statement. Shares of financial services companies gained after PNB Housing Finance disclosed fund raising via commercial papers.