Continuing its record streak, the domestic equity market climbed another milestone Wednesday amid broad-based buying and positive global signals. Among the major indices, the S&P BSE Sensex finished above the crucial 46,000 level for the first time at 46,103.50, an increase of 495 points or 1.09 percent. It was the fifth consecutive earnings session for the 30-share index.
On the NSE, the broader Nifty50 index finished above the 13,500 level at 13,529, an increase of 136 points or 1.02 percent. The index recovered for the seventh day in a row.
Meanwhile, the volatility index, India VIX, gained 1.62 percent to levels of 18.92.
HDFC Bank, Reliance Industries (RIL), Infosys, and Asian Paints were among the top contributors to Sensex’s earnings today.
In the broader market, the S&P BSE MidCap Index rose 0.4 percent to 17,596 levels and the S&P BSE SmallCap Index closed at 17,577, an increase of 86 points or 0.49 percent.
Among the NSE sector indices, Nifty Bank finished almost 1.5% higher at 30,709 notches, while Nifty IT and Nifty FMCG gained 0.8% each. However, the Nifty PSU Bank Index fell 1 percent to 1,838.55 notches.
Global markets
European stocks hit February highs on Wednesday, joining a global stock market rally due to optimism around progress on Covid-19 vaccines and the US stimulus package, while all eyes were on the Brexit negotiations.
The pan-European STOXX 600 index and London’s FTSE 100 rose 0.3%.
Globally, the S&P 500 and Nasdaq hit record highs overnight, and Asian stocks followed suit.
In commodities, oil prices rose a bit more, reducing previous losses, as positive news about Covid-19 vaccines raised investors’ hopes for a recovery in fuel demand, outpacing concerns about a Unexpected Increase in US Oil Inventories
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