Sensex zooms 790 points to close at 49,734; Nifty settles above 14,850

Equity indices continued to surge for the third straight session on Wednesday helped by gains in banking and auto stocks. The benchmark BSE sensex jumped 790 points or 1.61 per cent to close at 49,734; while the broader NSE Nifty moved 212 points or 1.44 per cent higher to settle at 14,865.