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Key stock market indices rose to their highest since mid-February on Wednesday, led by auto makers and as appetite for risky assets improved globally on signs of progress in Ukraine-Russia peace talks.
The NSE Nifty 50 index climbed 0.4 per cent to 17,394.7 and the S&P BSE Sensex rose 0.43 per cent to 58,190.82 in the opening session.
Most global equity markets reacted positively to Russia's promises on Tuesday to scale down its military operations near Kyiv and surrounding cities, though on the ground, reports of attacks continued.
The Nifty Auto index gained 1.2 per cent, led by a 2.8 per cent rise in Hero MotoCorp, while the Nifty Metal index slipped 1.8 per cent as metal prices eased.
Oil and Natural Gas Corp slid 4.9 per cent to a two-week low after the oil producer said India would sell an up to 1.5 per cent stake in the company.
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