In early trade on Wednesday, the Sensex surged about 400 points to retake the critical 61,000-level, propelled by hopes of a strong quarterly results season. The BSE index began the day on a bullish note, rising 397.48 points, or 0.66%, to 61,014.37 in early trade.

Similarly, the Nifty surged 96.50 points, or 0.53%, to 18,152.25 in the early session.

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UltraTech Cement, RIL, IndusInd Bank, Bharti Airtel, Kotak Bank, and Tata Steel were among the biggest gainers on the Sensex. In contrast, TCS, Dr Reddy’s, Titan, Maruti and Wipro were among the major laggards.

The 30-share benchmark closed 221.26 points or 0.37% higher at 60,616.89 in the previous session, while the NSE Nifty gained 52.45 points or 0.29% to 18,055.75.

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“The short-term momentum reflects that the market is in complete control of the bulls. The expected good results from the three IT majors today are likely to impart resilience to the market,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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Results from the leading banks, starting Saturday, also will be good thanks to declining provisioning and rising net interest margins, he added.

The 30-share benchmark closed 221.26 points or 0.37% higher at 60,616.89 in the previous session, while the NSE Nifty gained 52.45 points or 0.29% to 18,055.75.

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Markets in Asia were trading in the green following a stronger close on Wall Street.

According to stock exchange statistics, foreign institutional investors (FIIs) were net purchasers in the capital market on Tuesday, purchasing shares worth Rs 111.91 crore.

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Separately, the international oil benchmark, Brent crude, fell 0.13% to USD 83.61 per barrel. Rupee surges 16 paise to 73.78 against the US dollar in early trade.