Sensex, Nifty rises over 1% led by financial stocks

BSE Sensex

The Sensex closed 461.42 points, or 1.35%, up at 34,760.89, while the Nifty 50 ended 159.05 points, or 1.54%, higher at 10,460.10 on Wednesday supported by gains in finance, auto and consumer durables sectors.

Share of financial services companies rallied after State Bank of India said it will triple its target of buying standard loans from NBFCs to up to Rs 45,000 crore in FY19.

Oil prices slipped to $84.80 per barrel after the IMF lowered its global growth forecasts.

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