Mumbai : Heavy buying in Financials, Metals and IT stocks lifted the benchmark indices to a record new high on Wednesday with the 30-pack Sensex surging 403.29 points or 0.87 per cent to 46,666.46 while Nifty climbing 114.85 points or 0.85 per cent to 13,682.70.
Hopes of early Covid-19 vaccine and US stimulus measures have lifted market sentiments globally and even in domestic markets all the sectors moved ahead with realty leading the rally amidst possibilities of economy revival.
Mrs Bectors Food IPO was subscribed over 10 times. Realty Sector was the top gainer as it climbed 5 per cent, while PNB was the only loser, dropping 7 per cent.
HDFC twins were the biggest contributors to rise in Sensex and IT companies stocks also rose in the rally on Wednesday.
Among the bluechip companies, the biggest gainer was Hindalco Industries, up 2.84 per cent to Rs 251.50. Bharti Airtel, HDFC, ONGC, Divi’s Laboratories, UPL, Asian Paints and Titan which also rose over 2 per cent.
A total of 325 stocks hit 52-week highs. Among them were Voltas, Titan, Tata Steel, Tata per, Havells, Kotak Bank and Bajaj Finance.
ICICI Bank was the biggest loser in the Nifty index, down 1.07 per cent to 512.50. IndusInd Bank, UltraTech Cement, GAIL, NTPC, Tech Mahindra, Bajaj Finserv and SBI also declined.
Market breadth was in favor of gainers even as 1165 companies settled with cuts.
In the last few days, foreign institutions are investing increasingly in Indian markets thereby lifting the benchmark indices in the last four straight sessions.
