Sensex rallies 495 points to cross 46k mark for first time; Nifty tops 13,500

Asian Paints was the top gainer in the Sensex pack

Equity benchmark Sensex soared 495 points to cross the 46,000-level for the first time on Wednesday amid persistent foreign fund inflows and positive cues from global markets.

After touching a record intra-day high of 46,164.10, the 30-share BSE index ended 494.99 points or 1.09% higher at 46,103.50 .

Similarly, the broader NSE Nifty rallied 136.15 points or 1.02% to its new record high of 13,529.10. It touched its lifetime peak of 13,548.90 during the day.

Asian Paints was the top gainer in the Sensex pack, rising around 3%, followed by Kotak Bank, Axis Bank, HDFC Bank, Infosys, Reliance Industries and ITC.

On the other hand, UltraTech Cement, Tata Steel, Maruti, SBI and Bajaj Auto were among the laggards.

“Domestic equities remained buoyant with Nifty and Sensex recording fresh highs today mainly supported by sharp rebound in global markets,” said Binod Modi, Head-Strategy at Reliance Securities.

The favourable progress on COVID-19 vaccine approvals and distribution across the globe has overshadowed the concerns over sharp rise in new cases and resultant lockdowns in various countries, he said.

Indian equities emerged as a preferred destination for foreign investors given the government’s strong commitment to revive economy, he said, adding that prospects of corporate earnings recovery have emerged strongly, which is much evident from key economic data and management commentaries.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth ₹2,909.60 crore on Tuesday, according to provisional exchange data.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended on a positive note, while Shanghai finished in the red.

Stock exchanges in Europe were trading with gains in early deals.

Meanwhile, the global oil benchmark Brent crude futures rose 0.96% to $49.31 per barrel.

In the forex market, rupee settled 3 paise higher at 73.57 (provisional) against the U.S. dollar.

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