Bulls continued to dominate on Dalal Street as broad-based buying lifted benchmark parameters to fresh record highs on Wednesday amid progress in vaccine approvals and stimulus talks globally.
Reports of ongoing efforts to launch more fiscal stimulus in the United States and elsewhere led investors to opt for riskier assets like equities. At the closing bell, the BSE S&P Sensex was up by 495 points or 1.09 per cent at 46,104 while the Nifty 50 gained by 136 points or 1.02 per cent at 13,529.
Except for Nifty PSU bank, metal and auto, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty private bank up by 1.6 per cent, realty by 1.4 per cent, IT by 0.8 per cent and FMCG by 0.7 per cent.
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Among stocks, agricultural solutions provider UPL jumped by 4.6 per cent to close at Rs 494.50 per share while index heavyweight Reliance Industries moved up by 1.6 per cent to wind up the day at Rs 2,092.70.
Private lenders Kotak Mahindra Bank, HDFC Bank and Axis Bank advanced by 2.6 per cent, 2.3 per cent and 2.2 per cent respectively. The other prominent winners were Asian Paints, Hindustan Lever and ITC.
However, those which lost were Hindalco, Tata Steel, Wipro, State Bank of India, Cipla and Britannia.
Meanwhile, Asian shares rose to a record high and US stock futures gained as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.
Japan’s Nikkei rose by 1.33 per cent to approach a 29-year high and the sentiment got an added boost after Japanese data pointed to a rebound in capital expenditure. Shares in Hong Kong rose by 0.75 per cent while South Korean stocks jumped by 2.02 per cent to trade near a record high.