Indian shares hit 7-week high

Indian shares scaled a near seven-week high on Wednesday, boosted by automakers and heavyweight financials, with appetite for riskier assets rebounding globally on signs of progress in Ukraine-Russia peace talks, reports Reuters.
The NSE Nifty 50 index climbed 1per cent to 17,498.25, while the S&P BSE Sensex rose 1.3per cent to 58,683.99, extending a rally to a third straight session.
Global equity markets largely reacted positively to Russia's promises on Tuesday to scale down its military operations near Kyiv and surrounding cities.
"Some recovery is visible in the market from the oversold zone, led by key drivers like peace talks between Russia-Ukraine," said Neeraj Chadawar, head - quantitative equity research, Axis Securities.