Mumbai, Nov. 12 -- Domestic equity benchmarks surged on Wednesday, extending their winning streak for the third consecutive session. The Nifty 50 closed above the 25,850 mark, driven by strong buying in IT, auto, and pharma stocks.

Optimism grew over a possible India-U.S. trade agreement, alongside hopes that the U.S. government shutdown would soon be resolved. Further cheer came from expectations of rate cuts by the U.S. Federal Reserve, as recent labour market data signalled cooling inflationary pressures.

Adding to the momentum, exit polls in Bihar projecting a clear victory for the NDA alliance bolstered domestic investor confidence, fuelling a risk-on mood in the broader market.

The S&P BSE Sensex zoomed 595.19 points or 0.71% to ...