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Share market highlights: Sensex ends 232 points higher, Nifty above 10,850; Axis Bank, ITC shares surge

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Share market highlights: The Sensex and Nifty made a smart recovery in the afternoon trade on Wednesday, buoyed by a strong rally in financials. Sensex closed 231.98 points higher at 36,212.91, while the Nifty closed 53 points higher at 10,855. Axis Bank shares gained by more than 2.9% to Rs 670.05, while ITC shares ended the session 2.3% higher at 290.70. The recovery in the shares was led by financials and auto stocks.

Earlier, the S&P 500 jumped to a three-week high on Tuesday, led by Apple, Amazon, Facebook and industrial shares on bets that the United States and China would strike a deal to end their trade war. The three-day rally kicked off on Friday following robust US jobs data and dovish comments on interest rates by Federal Reserve chief Jerome Powell has lifted the S&P 500 by over 9 percent from 20-month lows touched around Christmas, Reuters reported. Asian stocks rallied Wednesday following gains in the U.S. amid optimism on the potential for progress in trade talks between Washington and Beijing. Treasuries steadied after their recent slide and the dollar dipped, said a Bloomberg report. We bring yo you LIVE updates.