Mumbai : In the backdrop of firm global hues, the benchmark indices rose to a record highs at close of the trading session on Wednesday with Sensex touching 49.9874 and Nifty reaching 14,666 as it most likely aimed to move close to 15,000.
Sectorwise, the rise was witnessed in Auto, IT, Energy, Industrials and consumer stocks while profit-booking was noticed in FMCG and Telecom space.
More than 250 stocks hit a fresh 52-week high. They included MRF, Bajaj Auto, Eicher Motors.
Experts said that firm global hues and stable Q3 earnings evoked bullish sentiments in the stock markets after two sessions of declines in the last four sessions.
The US market too was upbeat on Wednesday coming close on the heels of Joe Biden’s taking over as the President amidst high expectations of a big stimulus post Corona pandemic.
On Wednesday, all the sectors except FMCG closed in the positive category. The market breadth was in favour of the bulls.
Investors are setting their eyes on Feb 1 when the union budget would be presented. The traders are focussing on PSU Banks and Capital goods sectors which have attracted huge fund flows in anticipation of annoucement for these sectors.
However, FII flows have slowed down currently and appear to stay mute for the next couple of weeks in the wake of new US President taking over.
