Indian benchmark indices scaled fresh lifetime high levels on Wednesday propelled by heavy buying in IT, auto and PSU bank stocks. At close, the BSE Sensex closed 394 points higher at 49,792 while the nse Nifty 50 advanced by 124 points to 14,645.
Top gainers today names Tata Motors, Adani Ports, Wipro, Maruti and Tech Mahindra, while major losers were Power Grid, Shree Cements, NTPC, Gail and SBI Life.
All sectoral indices, barring Nifty FMCG at the NSE were in the positive zone with Nifty IT moving up by 2.2 pc, auto by 2.4 pc and PSU bank by 2.1 pc. Among stocks, Tata Motors accelerated by 6 pc to Rs 274.40 per share. Maruti Suzuki was up by 2.9 pc and Mahindra & Mahindra by 2.2 pc.
Wipro gained by 3.4 pc to Rs 445.20 per share while Tech Mahindra gained by 2.7 pc and Infosys by 1.7 pc. Index heavyweight Reliance Industries added gains of 1.9 pc.
Meanwhile, Asian shares climbed to a record high as US President-elect Joe Biden, who will be sworn into office later on Wednesday, last week laid out a 1.9 trillion dollar stimulus package proposal to boost the economy and speed up the distribution of vaccines.
Hong Kong's Hang Seng moved up by 1.08 pc to approach its 2019 peak and South Korea's Kospi was up by 0.71 pc. Japan's Nikkei, however, slipped 0.38 pc on profit-taking.
IPO bidding of Indigo Paints, Issue subscribes 24 pc
Pandemic fuelling social fragmentation for years: WEF Research
