The stock markets sustained their upward march on Wednesday as the benchmark Sensex gained 49 points on the back of robust earnings season and encouraging global cues even as the Reserve Bank kept all key lending rates steady in its Annual Monetary Policy.
The 30-share index of the Bombay Stock Exchange spurted to 17,427.06 at 1030 hrs, a net rise of 48.60 points over its previous close of 17,378.46.
The broader 50-share S&P CNX Nifty of the National Stock Exchange also advanced by 25.10 points to 5,220.60 at 1030 hrs from its last close.
Marketmen said the fourth quarter corporate earnings announced so far are quite encouraging and global markets also have shown some stability in the past few days.
Metal and IT shares, however, profit selling at the current levels. Indices of both Metal and IT on the BSE were trading in the red during morning trading.