Benchmark indices Sensex and Nifty raced to fresh record highs on Wednesday as gains in financials, auto and IT shares helped markets extend their winning run for the sixth straight session.
After opening strong, the stock indices gave up gains due to profit booking by investors. However, positive trends in the European stocks helped the indices rebound and end at record levels.
Benchmark indices Sensex and Nifty raced to fresh record highs on Wednesday as gains in financials, auto and IT shares helped markets extend their winning run for the sixth straight session.
After a volatile session, the 30-share BSE Sensex closed up by 133.14 points or 0.28 per cent at a record high of 47,746.22. The barometer scaled its all-time intra-day high of 47,807.85.
The broad-based NSE Nifty rose by 49.35 points or 0.35 per cent to finish at its lifetime high of 13,981.95. It touched all-time peak of 13,997 in intra-day trade.
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. Mahindra and Mahindra, Tech Mahindra, HUL, Kotak Bank, HDFC Bank, Reliance Industries and Asian Paints also finished in the green.
After opening strong, the stock indices gave up gains due to profit booking by investors. However, positive trends in the European stocks helped the indices rebound and end at record levels.
European stocks advanced on Wednesday as the UK approved the Covid-19 vaccine developed by AstraZeneca and Oxford University. Britain has authorized use of a second Covid-19 vaccine, becoming the first country to greenlight an easy-to-handle shot that its developers hope will become the "vaccine for the world".
Asian shares were mixed after a lacklustre day on Wall Street. Benchmarks fell in Tokyo and Sydney but rallied in Hong Kong, Seoul and Shanghai.
Japan's Nikkei 225 fell 0.5 per cent, a day after it surged more than 2 per cent to its highest level in more than 30 years. In Australia, the S&P/ASX 200 lost 0.3 per cent.
On the other hand, Hong Kong's Hang Seng surged 1.6 per cent, the Shanghai Composite index advanced 1 per cent while South Korea's Kospi jumped 1.9 per cent.