Indian shares advanced on Wednesday led by gains in consumer goods stocks such as ITC while easing global tensions over a potential clash between the U.S. and North Korea also supported sentiment.
Investors in Asia heaved a sigh of relief after a tumultuous few days spurred by heightened tensions between the U.S. and North Korea.
Risk appetite improved as North Korean leader Kim Jong Un delayed a decision on firing missiles towards Guam while he waits to see what the United States does.
The S&P BSE Sensex rose 1 percent to 31,770 while the broader NSE Nifty added 1.1 percent to 9,897.
Among the top index gainers: Tata Motors rose 3.6 percent, Cipla gained 3.5 percent while Hindustan Unilever and ITC advanced 3 percent each.
The S&P BSE Fast Moving Consumer Goods jumped 2.5 percent, lifted by Godfrey Phillips, Radico Khaitan and Tata Global Beverages.
Realty firm Unitech gained 2.1 percent after loss for the June quarter narrowed to Rs 42.4 crore from Rs 54.4 core for the same quarter last year.
Motherson Sumi rose 2.6 percent after Macquarie gave 'Outperform' rating on the stock with a target of Rs 400 per share.
Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declining.
