BENGALURU, Feb 9 Reuters Indian shares ended sharply higher on Wednesday, lifted by automakers and bank stocks, with investor focus fixed on the central bank39;s monetary policy decision due Thursday.

The bluechip NSE Nifty 50 index was up 1.14 at 17,463.8, while the SP BSE Sensex gained 1.14 to 58,465.97.

The Reserve Bank of India RBI is expected to hold its repo rate steady but increase its reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic.

Traders are also eyeing the RBI39;s commentary on inflation outlook and will seek details on how it plans to support the bond market in absorbing the government39;s record borrowing programme.

The 10year benchmark bond yield slipped to 6.80 from Tuesday39;s close of 6.81, while the rupee weakened 0.08 to 74.8075 against the dollar.

Stock markets in Asia and Europe also rose on Wednesday amid indications that tensions between the West and Russia over Ukraine may be easing.

In Mumbai, the bluechip stock indexes are around 0.7 higher on the month and have turned positive for the year with Wednesday39;s gains.

The Nifty Auto index led gains among subindexes, rising 2.2 as top automaker Maruti Suzuki jumped 4.1 to its best closing level since August 2018.

Ratesensitive bank stocks added 1.5, boosted by a 2.5 rise in heavyweight private sector lender HDFC Bank.

The Nifty Metal index surged 1.9, as Adani Enterprises and Coal India climbed 3.9 and 5.4, respectively….