The Indian stock indices, Sensex and Nifty extended gains for the eighth consecutive session to end at a record level on Wednesday led by  strong global cues.  Trading was highly volatile today. At the close, the NSE Nifty was holding on to 12700 levels and ended sharply up by close to 1% at 12749, while BSE Sensex added 316 points to close at 43593.67. Broader indices pushed the gains with Nifty Smallcap100 and Midcap100 indices rising 0.72 and 0.37 percent, respectively.

Today's rally has mainly to do with stocks from the metal, pharma and auto space. Today's top gainers on the Nifty were Tata Steel, Hindalco, Axis Bank, Dr. Reddy's Labs and ITC, while top losers included IndusInd Bank, Reliance Industries, Titan and Asian Paints.  ITC also gained over 4% and traded at day's high price of Rs. 185.65 per share on the NSE. Nifty Bank settled at 28845. On the gains in the Nifty Bank, HDFC Bank and Kotak Mahindra Bank logged their respective new 52-week high.

Globally, stocks gained and bonds declined today as news of a working COVID-19 vaccine outweighed concern over surging infections, fuelling rotation towards cut-price losers from the Covid-19 pandemic such as travel stocks.

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