Benchmark equity indices ended higher on Wednesday, with the Nifty hitting its fresh record closing level, mainly due to buying in power, capital goods and industrial stocks amid a largely positive trend in global equities.
Besides, a heavy rush on select index-heavyweight counters like HDFC Bank and Reliance Industries boosted investors’ sentiment, traders said.
In a highly volatile trade, the 30-share BSE Sensex climbed 149.98 points or 0.20% to settle at 76,606.57. During the day, it jumped 593.94 points or 0.77% to 77,050.53. The BSE benchmark is just 28.51 points away from breaching its previous lifetime peak of 77,079.04.
The NSE Nifty went up by 177.1 points or 0.76% to hit its new all-time intra-day high of 23,441.95. It ended at a new closing peak of 23,322.95, up 58.10 points or 0.25%.
Power Grid was the biggest gainer on the Sensex chart, rising 2.54%, followed by Tech Mahindra, Bajaj Finance, NTPC, UltraTech Cement, Larsen & Toubro, Tata Steel, Bharti Airtel, Bajaj Finserv and HCL Technologies.
In contrast, Mahindra & Mahindra, Hindustan Unilever, Infosys and Titan were among the laggards.
In Asian markets, Seoul and Shanghai settled in the positive territory, while Tokyo and Hong Kong ended lower.
European markets were trading mostly with gains during the mid-session deals. U.S. markets ended mostly higher on Tuesday.
Global oil benchmark Brent crude climbed 1.16% to $82.87 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹111.04 crore on Tuesday, according to exchange data.
The BSE benchmark Sensex declined 33.49 points or 0.04% to settle at 76,456.59 on Tuesday. In a volatile trade, the Nifty ended marginally up by 5.65 points or 0.02% at 23,264.85.
Sunil Garnayak is an expert in Indian news with extensive knowledge of the nation’s political, social, and economic landscape and international relations. With years of experience in journalism, Sunil delivers in-depth analysis and accurate reporting that keeps readers informed about the latest developments in India. His commitment to factual accuracy and nuanced storytelling ensures that his articles provide valuable insights into the country’s most pressing issues.
