Stock Market Updates: Top Nifty gainers were IndusInd Bank, Tata Steel, Hindalco and Axis Bank
Domestic share markets extended gains to a fourth straight day on Wednesday, tracking strength in broader Asian markets on renewed hopes for more stimulus in the world's largest economy. The S&P BSE Sensex index rose 431.65 points - or 1.06 per cent - to 40,976.02 at the strongest level during the session, and the broader NSE Nifty 50 benchmark climbed to as high as 12,018.65, up 121.85 points - or 1.02 per cent - from its previous close. Gains across most sectors - led by banking and automobile shares - supported the markets, however losses in consumer goods stocks limited the upside.
At 10:06 am, the S&P BSE Sensex index traded 383.18 points - or 0.95 per cent - higher at 40,927.55, while the Nifty was up 103.95 points - or 0.87 per cent - higher at 12,000.75.
Forty three stocks in the 50-scrip Nifty basket were rising at the time. IndusInd Bank, Tata Steel, Hindalco, Axis Bank and Adani Ports, up 2.08-2.79 per cent each, were the top gainers in the index.
On the other hand, FMCG majors Britannia, Nestle and HUL - down 1.97 per cent, 0.72 per cent and 0.60 per cent - were the top laggards.
HDFC, HDFC Bank, ICICI Bank and Reliance Industries were the biggest boosts to Sensex, contributing more than 200 points to the gain in the index.
Reliance Industries shares rose as much as 1.65 per cent to Rs 2,191 apiece on the BSE, a day after the conglomerate announced it had expanded efforts with Qualcomm to develop 5G solutions in the country.
The White House and Democrats moved closer to an agreement on a new COVID-19 relief package as US President Donald Trump said he was willing to accept a large aid bill despite opposition from his own party.
