Indian markets continued to rally  for the second day on Wednesday. At 14.59., the Sensex was trading up 1,983.52 points or 7.44% at 28,657.55 with 24 components gaining.  Meanwhile, the Nifty was trading higher by 527 points or 6.76%% at 8,328.05 with 7 components falling.

Biggest gainers in the 30-share index were Reliance Industries  (16.51%), Kotak Mahindra Bank  (12.90%), Maruti Suzuki India  (10.00%), H D F C Bank  (9.99%), Housing Development Finance Corporation  (9.47%),  and I C I C I Bank  (9.17%).

 On the other hand, Yes Bank  (14.84%), Indusind Bank  (3.31%), I T C  (1.84%),  and Oil & Natural Gas Corporation  (1.44%) were the major losers in the Sensex.

Market breadth was negative with 1,003 advances against 855 declines.

IDFC Fixed Maturity Plan - Yearly Series 54 - Growth topped the value chart on the BSE with a turnover of Rs. 316.13 million.  It was followed by Tata Fixed Tenure Fund Series 2 - Scheme A - Growth (Rs. 102.87 million), JMT Auto  (Rs. 5.60 million) and Sundaram FTP - Plan BP - Dividend (Rs. 5.20 million).

The volume chart was led by JMT Auto  with trades of over 5.90 million shares.  It was followed by Tata Fixed Tenure Fund Series 2 - Scheme A - Growth (0.81 million), IDFC Fixed Maturity Plan - Yearly Series 54 - Growth (0.36 million) and Karuturi Global  (0.26 million).