Sensex gains on banking stocks, Nifty takes 4,900

The BSE Sensex rose over 1% Wednesday, tracking strong gains in Asia and the rupee. At 09.20 a.m., it traded 178 points higher at 16,198, while the broader Nifty index advanced 55 points to 4,918.Asian stocks traded higher for a second straight day, with markets in Japan rising over 1.5%. The rupee gained 18 paise and traded at 55.46 against the US dollar.Indian markets have been moving down over the last two months, and every up mov...