Opening bell: Sensex in green above 58,380, Nifty trades over 17,200

Sensex, Nifty today: Among the Sensex stocks, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Larsen & Toubro, HCL Technologies, Bajaj Finserv, Tata Motors, IndusInd Bank and Tata Steel were the major gainers.

Sensex, Nifty live updates: Stock markets started the trade on a positive note on Wednesday, continuing their previous day's rally, in line with a firm trend in global equities.

Stock markets update: People walk past the Bombay Stock Exchange building in Mumbai. (PTI)

The 30-share BSE Sensex advanced 344.1 points to 58,418.78. The broader NSE Nifty climbed 99.75 points to 17,207.25.

Among the Sensex stocks, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Larsen & Toubro, HCL Technologies, Bajaj Finserv, Tata Motors, IndusInd Bank and Tata Steel were the major gainers.

Power Grid, Kotak Mahindra Bank, NTPC, HDFC Bank, and HDFC were the laggards.

In Asia, Seoul, Japan, Hong Kong and Shanghai markets were trading in the green.

The US markets had ended significantly higher on Tuesday.

"Today’s Fed decision will be crucial in determining the direction of the market," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The BSE benchmark had climbed 445.73 points or 0.77 per cent to settle at 58,074.68 on Tuesday. The Nifty had advanced 119.10 points or 0.70 per cent to settle at 17,107.50.

Foreign Portfolio Investors offloaded equities worth ₹1,454.63 crore on Tuesday, according to exchange data.