The BSE Sensex closed up by 1.65 Percent on Wednesday, its second straight rise. Software companies and financial institutions gained on renewed growth hopes.

BSE Sensex
BSE Sensex Reuters

The main 30-share BSE index rose 285.53 points to 17,601.71, with 25 of its components advancing. The 50-share Nifty index rose above its 50-day moving average to end up 1.71 percent at 5,364.95.

Share of Tata Consultancy Services rose by 3.6 percent and Infosys gained by 1.3 percent. Tech Mahindra Ltd rose 5.6 percent and Mahindra Satyam ended up 4.7 percent after its board approved merger.

Among the financial institutions, ICICI Bank rose 2.8 percent, HDFC Bank rose 2 percent and State Bank of India gained 2.1 percent. Larsen gained 4.6 percent and BHEL rose 2.94 percent.