The BSE Sensex climbed 0.62 percent on Wednesday to its highest close in 12 weeks, led by surges in metal and automaker scrips, even though traders expressed doubt whether the exceptional rally seen so far this year would last.
Rebounding in late trade, the 30-share benchmark index ended 107.03 points higher to its highest close since Nov 9 at 17,300.58 -- a day after logging a 11.3 percent rise in January in its best month since September 2010 -- with 19 of its components closing in the green.
The broader 50-share National Stock Exchange (NSE) Nifty index ended 0.70 percent or 36.45 points higher at 5,235.70 points on Wednesday.
Shares in automakers surged on better-than-expected January sales, with Maruti, Tata Motors and Mahindra & Mahindra, all posting gains. They were joined by metal firms Tata Steel and Jindal Steel & Power that gained on January growth from factory sector in China and India.
Meanwhile, the the rupee hit a near three-month high on Wednesday, bolstered by strong dollar inflows, local equity gains and a recovery in the euro, closing at 49.2650/2750 per dollar and gaining 0.4 percent from Tuesday´s close of 49.44/45.
