The Indian market continued to witness new record highs since the start of this week and Wednesday was no different as Sensex inched to clock a 52-week high of 45,899.02 and Nifty 50 hits all-time high of 13,475 in early deals. The rising spree is led by a broad-based buying sentiment with banking stocks witnessing outperformance and substantial gains added by IT and oil stocks.
At around 09.27 am, Sensex was trading at 45,893.69 up 285.18 points or 0.63% and Nifty 50 was performing at 13,467.05 above 74.10 points or 0.55%.
On the 30-scrip index, gainers' bucket was led by
ONGC (+2%), followed by ITC (+1.75%), TCS (+1.33%),
Infosys (+1.09%) and Bajaj Finserv (+0.98%).
However,
Ultratech Cement (-1.08%) and Maruti Suzuki (-0.44%) were the only underperformers on Sensex.
On the sector-wise front, BSE IT was trading at 22,821.68 up 180.87 points or 0.80%, while BSE Bankex was at 34,726.01 above 194.75 points or 0.56% and BSE Oil & Gas stood at 14,286.93 up 129.26 points or 0.91%.
BSE Midcap and SmallCaps were also among top picks, gaining by near 1% each.
Stocks that will remain in focus today are - Dr Reddy's, Tata Group stocks, ICICI Bank, ICICI Securities, JSW Steel, Tata Steel, Yes Bank and Indian Bank among others.
The domestic equities tracked Asian markets which were performing on a higher note to a record high as investors track positive reports on Covid-19 vaccine and further hopes for launching fiscal stimulus.
Japan's Nikkei 225, South Korea's KOSPI and Hong Kong's Hang Seng gains by over 1-1.5%, while other indexes also recorded upside.